South Korean conglomerates and global tech giants, including Nvidia, have committed to collaborative projects valued at $950 billion, as confirmed by a senior presidential official. SK Group is set to provide high-performance semiconductors worth $750 billion to global tech firms like Nvidia, as part of the agreed-upon initiatives. Notable figures present at the San Francisco meeting included Samsung Electronics Co. Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won.
OpenAI Chief Executive Officer Sam Altman and Nvidia CEO Jensen Huang were also in attendance at the high-level gathering. The participants agreed to explore joint investments in large-scale AI data centers with a total capacity of 5 gigawatts and 2 million GPUs. Additionally, Naver, South Korea’s internet portal, will establish global AI factories amounting to $10 billion through strategic partnerships with Nvidia and Brookfield Corp., a Canadian investment management firm.
President Lee Jae Myung articulated a vision during the meeting to position South Korea as a reliable production hub and supplier for AI semiconductors. Emphasizing the country’s potential to become a significant player in the global AI supply chain, Lee expressed his commitment to advancing South Korea’s role in this sector. This declaration, known as the “San Francisco AI Declaration,” aims to solidify South Korea’s standing as an essential nation in the AI supply chain.
The announcement comes as South Korea aims to capitalize on the growing demand for semiconductors amid the AI surge, positioning itself as a key chip supply hub globally. In a recent move, South Korea unveiled three substantial projects involving significant investments exceeding 4,000 trillion won ($2.73 trillion) in semiconductor production clusters, physical AI, and AI data centers.
