Samsung, SK Hynix to announce major chip deals with US tech firms during Korean president's Silicon Valley visit

Published Jul 24, 02:43 PM UTC

South Korean memory chip giants Samsung and SK Hynix are expected to announce multibillion-dollar strategic partnerships, memorandums of understanding, and long-term supply deals with leading U.S. technology companies. The announcements are set to occur during South Korean President Lee Jae Myung’s visit to Silicon Valley for the San Francisco AI summit, which brings together industry leaders including Nvidia CEO Jensen Huang, OpenAI's Sam Altman, and Anthropic's Dario Amodei. The deals follow South Korea's $880 billion investment plan to strengthen AI leadership through chip production expansions and data center buildouts. According to presidential policy chief Kim Yong-beom, U.S. companies account for 80-90% of underlying orders driving South Korea's domestic expansion. The president will hold separate meetings with key U.S. tech executives to finalize long-running negotiations.