Nvidia announced on Monday that it was entering a series of deals with South Korean companies, including SK Hynix and Naver, as it attempts to secure crucial memory chips for its AI ambitions. The agreements come during CEO Jensen Huang’s trip to South Korea, which began on Friday.
Nvidia and its partners did not disclose the value of the deals. SK Group, South Korea’s second-largest family-owned conglomerate, said its SK Hynix and SK Telecom arms had agreed deals with Nvidia.
Memory chip maker SK Hynix signed a multi-year technology partnership that will see it commit to developing advanced types of memory for global AI data centers, SK Group said.
Nvidia and SK Hynix said the agreement, which comes as memory chip makers have been straining to keep up with demand, would enable supply to keep pace with Nvidia’s plans, which have expanded to robotics, personal computers and AI supercomputers. Huang said SK Hynix’s plan to double its memory wafer capacity by 2030 would not be enough to meet the surging AI demand.
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“SK Hynix has been Nvidia’s largest memory partner. SK Hynix will continue to be Nvidia’s largest memory partner,” Huang said after a meeting with SK Group Chairman Chey Tae-won at the headquarters of the chipmaker’s parent. He also said that the deal with SK Hynix was for more than two years with the option to keep extending.
“We already procure and we buy from SK Hynix already billions and billions of dollars each year, and it’s going to grow substantially,” he said.
Ryu Young-ho, a senior analyst at NH Investment & Securities, said the SK Hynix-Nvidia partnership reinforced the view that memory chips were evolving from a commodity product into a more customer-specific business.
SK Telecom said it would build a gigawatt-scale AI cloud in South Korea using Nvidia technology with the first AI data center to come online in 2027. Nvidia said internet giant Naver and conglomerate Doosan would also use its technology to help build AI data centers.
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Doosan, which is developing robots and makes materials used in Nvidia’s most powerful Blackwell chips, said it expected its energy solution to be used in Nvidia’s data center platforms and for it to use the U.S. firm’s physical AI technology as well.
Huang also said that Nvidia is partnering with LG Group on electronics, mechanical systems and AI for humanoid robots, after meeting with the tech conglomerate’s Chairman Koo Kwang-mo. He added that they were also working on the architecture of future data centers including cooling, power delivery and the entire design and building of the data centers.
Huang also met with Hyundai Motor Group’s Executive Chair Euisun Chung, and said Nvidia would deepen its partnership with Hyundai across a range of AI initiatives, including autonomous mobility, robotics and AI-powered manufacturing.