Samsung, SK, Hyundai expand AI partnerships with Big Tech firms to $950 bil.

Samsung, SK Group, Hyundai Motor Group and other Korean tech conglomerates expanded their artificial intelligence (AI) and semiconductor partnerships with U.S. Big Tech companies to $950 billion during President Lee Jae Myung's visit to San Francisco over the weekend. According to presidential chief of staff for policy Kim Yong-beom, Korean companies and Big Tech firms agreed to pursue a combined $950 billion worth of semiconductor and AI partnerships, on the occasion of the San Francisco AI Summit on Friday (local time). Among them, Samsung Electronics signed a $200 billion memorandum of understanding (MOU) with Broadcom, under which Samsung's memory and foundry businesses will supply AI-specific high-bandwidth memory (HBM) chips and logic semiconductor manufacturing services for Broadcom's AI accelerators through 2030. Broadcom is one of the world's leading fabless companies specializing in application-specific integrated circuit chips, designing custom processors tailored to the needs of individual hyperscalers and cloud service providers. As such customers increasingly seek AI accele