Yazılar

Samsung and SK Hynix to Supply Chips for OpenAI’s $500 Billion Stargate Project

/in /tarafından

Samsung Electronics and SK Hynix, South Korea’s top semiconductor manufacturers, have signed letters of intent to supply memory chips for OpenAI’s massive Stargate project, marking a major step in Seoul’s growing role in global artificial intelligence infrastructure.

As part of the deal, OpenAI will collaborate with both companies to build two new AI data centers in South Korea, branded as “Korean-style Stargate,” aligning with President Lee Jae Myung’s goal of turning the country into an AI innovation hub in Asia. The decision leverages South Korea’s strong industrial base and its status as the world’s second-largest ChatGPT subscription market after the United States.

The agreements were announced on Wednesday following a high-profile meeting in Seoul between OpenAI CEO Sam Altman, President Lee Jae Myung, and the chairmen of Samsung Electronics and SK Hynix.

The Stargate project, unveiled by U.S. President Donald Trump in January, aims to invest $500 billion into developing next-generation AI infrastructure with global partners such as SoftBank, Oracle, and now the South Korean chip giants. The initiative seeks to secure the computing capacity needed to sustain AI’s rapid growth and maintain U.S. leadership in the field.

South Korea’s presidential adviser Kim Yong-beom revealed that OpenAI plans to order 900,000 semiconductor wafers by 2029 and establish joint ventures with Samsung and SK Hynix to operate two 20-megawatt-capacity data centers domestically.

“The significant part of the Stargate project would be impossible without memory chips from the two companies,” said Kim.

He added that South Korea may also participate in financing the project.

Altman, in his remarks, emphasized the strategic importance of Korea:

“Korea has an industrial base like nowhere else in the world that is critical for the development of AI. We’re very excited to build Stargate Korea with Samsung and Hynix to support the sovereign AI needs of the country.”

Together, Samsung and SK Hynix control about 70% of the global DRAM market and nearly 80% of the HBM (High Bandwidth Memory) market. HBM technology, introduced in 2013, stacks chips vertically to save space, boost performance, and reduce power consumption, making it vital for AI data processing.

Analysts estimate that 900,000 wafers of advanced DRAM could be worth more than 100 trillion won ($70 billion), though prices may fluctuate depending on market conditions.

In addition to the memory supply deals:

  • Samsung SDS, an IT services affiliate, signed a partnership with OpenAI to develop and operate AI data centers under the Stargate framework.

  • Samsung Heavy Industries and Samsung C&T will collaborate on floating offshore data centers, designed to reduce cooling costs and carbon emissions.

Meanwhile, Google has also been in talks with several South Korean companies to explore potential AI collaborations. In June, SK Group announced a 7 trillion won investment, including $4 billion from Amazon Web Services, to build another major data center in the country.

Despite optimism about AI’s transformative potential, some investors remain cautious, citing the risk of a tech infrastructure bubble as companies rush to build large-scale data facilities.

The Stargate project, delayed earlier by prolonged negotiations and site selection, is now poised to gain new momentum through this South Korea partnership, reinforcing the nation’s position at the heart of the global AI supply chain.

Trump and Xi advance TikTok talks, plan South Korea summit

/in /tarafından

U.S. President Donald Trump and Chinese President Xi Jinping said they made progress toward a TikTok deal during their first phone call in three months, and agreed to meet face-to-face on October 31 in Gyeongju, South Korea, at the Asia-Pacific Economic Cooperation (APEC) forum.

Trump told reporters Xi had “approved the TikTok deal,” though China’s official statement stopped short, saying only that it respected company negotiations “based on market rules.” A final agreement remains elusive, with disputes over ownership, algorithm control, and congressional approval still unresolved.

Under pressure from Congress, ByteDance must divest TikTok’s U.S. assets by January 2025 or face a nationwide ban. Trump has delayed enforcement, citing concerns about angering TikTok’s 170 million American users and disrupting political communications. He hinted the U.S. may even take a multibillion-dollar broker’s fee for helping facilitate the deal.

The call also touched on trade, fentanyl exports, and the Russia-Ukraine war. Trump said Xi indicated he wanted the conflict “ended,” though no specifics emerged. Meanwhile, Trump’s sweeping tariff hikes against China remain in place, with rates at historic highs despite limited deals earlier this year that paused tit-for-tat escalation.

For Beijing, analysts say the dynamic is favorable: China projects patience while Washington seeks quick wins on TikTok and summit optics. Critics in the U.S. warn that leaving ByteDance’s algorithm under Chinese control could still allow Beijing to influence or surveil Americans. China dismisses those concerns as unfounded.

Both sides confirmed additional leader visits in 2025: Trump to Beijing early next year, and Xi to the U.S. later. But thorny issues — from tariffs to Taiwan and the South China Sea — remain unsettled, ensuring the rivalry continues beneath the cautious diplomatic thaw.

South Korea’s Toss Targets Global Expansion, Eyes Won-Based Stablecoin

/in /tarafından

South Korean fintech unicorn Toss is preparing a major international expansion, starting with Australia, while also positioning itself to issue a won-based stablecoin once regulations are in place, CEO and founder Lee Seung-gun said on Tuesday.

Founded in 2015, Toss has grown to more than 30 million users in South Korea, showing that a startup can challenge traditional banks and brokers head-on. Lee, a dentist-turned-entrepreneur, said the company’s success at home can be replicated abroad.

“We proved in Korea that a startup can compete head-on with entrenched players. A similar model can work globally, especially in countries where users juggle multiple bank accounts or fintech apps. We want to bring them into one seamless experience,” Lee told Reuters.

Global push begins in Australia

  • Toss has established an Australian unit and aims to launch core services such as peer-to-peer money transfers by year-end.

  • Australia’s fragmented banking system and open-banking rules make it an attractive entry point.

  • Toss is reviewing other markets, with Singapore serving mainly as a regional hub rather than a retail market.

Stablecoin ambitions

Lee confirmed Toss’s intent to issue a digital won stablecoin, pending regulatory approval. South Korea’s government is drafting legislation this year to allow stablecoin issuance under strict oversight and consumer protections.

“We will issue and distribute won-based stablecoin – that I can say for sure,” Lee said, noting Toss is in regular talks with regulators to build the necessary infrastructure.

IPO plans

Toss is also preparing for a U.S. IPO in Q2 2026, targeting a valuation of $10–15 billion, according to earlier reports. If achieved, it would be the largest U.S. listing by a South Korean firm since 2021. Global funds see Toss as one of the few fintechs delivering on the super app model.

Lee emphasized that Toss’s long-term ambition is to become “a global internet company built on financial services”, not just another financial holding firm.