Nvidia announced a series of deals in South Korea with technology giants including SK Hynix and Naver during a high-profile visit by Chief Executive Officer Jensen Huang that began on Friday and saw him meet the country’s top corporate leaders across multiple engagements over several days. The agreements, which also included SK Telecom and conglomerate Doosan Group, were not accompanied by disclosed financial figures but represent some of the most significant artificial intelligence infrastructure commitments Nvidia has secured in Asia in recent months.
The most consequential of the deals was a multi-year technology partnership between Nvidia and SK Hynix, under which the memory chip maker committed to developing advanced types of memory specifically for global artificial intelligence data centres, with the agreement structured to ensure that supply can keep pace with Nvidia’s rapidly expanding plans across robotics, personal computers, and artificial intelligence supercomputers. Huang confirmed the scope of the existing relationship, stating that Nvidia already procures billions of dollars from SK Hynix annually and that the figure would grow substantially under the extended arrangement. The deal was described as running for more than two years with the option for continued extension, reinforcing SK Hynix’s position as Nvidia’s largest memory partner.
Beyond the SK Hynix agreement, SK Telecom committed to building a gigawatt-scale artificial intelligence cloud in South Korea using Nvidia technology, with the first artificial intelligence data centre under that programme expected to come online in 2027. Internet giant Naver and conglomerate Doosan also signed agreements to use Nvidia technology in building artificial intelligence data centres, with Doosan, which develops robots and supplies materials used in Nvidia’s most powerful Blackwell chips, expecting its energy solutions to be integrated into Nvidia’s data centre platforms while also adopting the company’s physical artificial intelligence technology. Nvidia additionally announced a partnership with LG Group covering electronics, mechanical systems, and artificial intelligence for humanoid robots, with Huang confirming that the two companies were also collaborating on the architecture of future data centres including cooling systems, power delivery, and overall facility design.
The flurry of deal-making in Seoul came against the backdrop of a sharp sell-off in South Korean technology stocks on Monday, with the country’s benchmark Kospi index falling nearly 9 percent after robust United States jobs data increased expectations of a Federal Reserve rate increase, triggering a broader rout in global technology equities. Samsung and SK Hynix shares both plunged more than 10 percent in early trading before partially recovering, with Samsung closing down 4.6 percent and SK Hynix falling 0.6 percent. Huang dismissed concerns about the market decline, telling reporters that investors should be excited by the opportunity to buy stock at lower prices and expressing confidence that the long-term outlook for artificial intelligence remains very bright.
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