Manama: South Korean conglomerates and global tech giants, including Nvidia Corp., agreed Friday to pursue a series of cooperation projects that together are worth US$950 billion. The agreement was reached during a high-level meeting in San Francisco that brought together the chiefs of global tech firms and the heads of South Korean conglomerates. According to Bahrain News Agency, the projects include a long-term deal under which SK Group will supply $750 billion worth of high-performance semiconductors to global tech firms, including Nvidia, presidential chief of staff for policy Kim Yong-beom said at a press briefing. During the meeting, South Korean firms and global tech companies also agreed to pursue joint investment in large-scale AI data centres with a combined capacity of 5 gigawatts and 2 million graphics processing units (GPUs), Kim said. Additionally, there is a plan for Naver to establish global AI factories worth $10 billion through a strategic investment agreement with Nvidia. Concurrently, His Excellency Lee Jae Myung, President of South Korea, unveiled the "San Francisco AI Declaration" during his overseas tour. The president also declared a vision for South Korea to become a trustworthy AI chip production base and supply chain partner, as well as a testing ground for adopting AI technology in manufacturing and logistics. Last month, South Korea announced three megaprojects involving major investments, totaling over 4,000 trillion won (US$2.73 trillion), in a semiconductor production cluster, physical AI, and AI data centres.
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