South Korea AI Summit $950B Deals
Analysis based on 129 articles · First reported Jul 24, 2026 · Last updated Jul 28, 2026
The announcements are expected to boost South Korean chipmakers and AI infrastructure providers, with Naver's stock jumping over 8% on the Nvidia investment. The deals reinforce confidence in the AI buildout but also raise concerns about circular financing, as Nvidia's investments often fund customers that buy its chips, potentially inflating valuations and increasing systemic risk.
During a San Francisco AI summit hosted by South Korean President Lee Jae Myung, South Korean conglomerates and global tech giants announced a series of cooperation projects worth a combined $950 billion. The centerpiece is a long-term deal under which SK Group will supply $750 billion worth of high-performance semiconductors to global tech firms, including Nvidia. This includes a $500 billion-plus partnership between Nvidia and SK Group spanning AI factories and next-generation memory, with SK Telecom building a 2-gigawatt AI data center and SK Hynix co-developing HBM memory. Separately, Samsung Electronics signed a memorandum of understanding with Broadcom valued at up to $200 billion covering memory chips, foundry services, and advanced packaging. Nvidia also announced a $1 billion investment in Naver to expand its AI data center, with Brookfield providing up to $9 billion in financing. President Lee unveiled the 'San Francisco AI Declaration,' vowing to make South Korea an 'irreplaceable, core nation' in the AI supply chain. The deals build on South Korea's recent $2.73 trillion investment plan for semiconductor and AI infrastructure.
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