Overview
- At a San Francisco summit on July 24, President Lee Jae Myung unveiled the “San Francisco AI Declaration” and helped seal MOUs and partnership commitments totaling about $950 billion.
- The headline commitments include SK Group pursuing roughly $750 billion in long‑term memory supply deals, Samsung signing an up‑to‑$200 billion MOU with Broadcom, and a $500 billion‑plus Nvidia–SK initiative focused on AI data centers and next‑generation memory.
- SK Telecom plans a 2‑gigawatt AI data center using Nvidia’s Vera Rubin systems and SK Hynix HBM4 memory with the first facility targeted to be online in 2027.
- Nvidia said it secured long‑term HBM supply from SK Hynix, will co‑develop next‑generation HBM, and will invest $1 billion in Naver to expand GPU‑based data center capacity.
- Most announcements are MOUs or high‑level commitments and face major execution risks, including finding sites, raising phased financing, meeting huge power and water needs, building a skilled workforce and avoiding future overcapacity.