Nvidia revealed a variety of agreements in South Korea with major tech companies like SK Hynix and Naver, aiming to obtain essential memory chips to fuel its AI goals and attract additional clients.

The deals are announced during a prominent visit by Nvidia CEO Jensen Huang to South Korea, which started on Friday and included dining on grilled pork belly and local soju with the nation's leading corporate figures, throwing a baseball pitch, and meeting a famous gamer.

Nvidia and its collaborators, which included SK Telecom and the Doosan Group, did not reveal the worth of the agreements.

SK Group, the second-largest family-controlled conglomerate in South Korea, announced that its subsidiaries SK Hynix and SK Telecom had finalized agreements with Nvidia.

Memory chip manufacturer SK Hynix has entered into a multi-year technology partnership, committing to develop sophisticated memory types for international AI data centres, according to SK Group.

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SK Hynix and Nvidia announced that the deal, occurring as memory chip manufacturers struggle to meet demand, would allow supply to align with Nvidia's growth plans, which now include robotics, personal computers, and AI supercomputers.

"SK Hynix has been the biggest memory ally for Nvidia." "SK Hynix will remain Nvidia's top memory partner," Huang stated following a discussion with SK Group Chairman Chey Tae-won at the chipmaker's parent company headquarters.

Huang noted that the agreement with SK Hynix, a competitor of Samsung Electronics and U.S. firm Micron Technology, spans over two years with the possibility of further extensions.

"We currently purchase and acquire from SK Hynix billions of dollars yearly, and this will significantly increase," he stated.

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Ryu Young-ho, a lead analyst at NH Investment & Securities, noted that the SK Hynix-Nvidia collaboration strengthened the perspective that memory chips were transitioning from a generic product to a more tailored business.

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SK Telecom announced plans to develop a gigawatt-scale AI cloud in South Korea utilizing Nvidia technology, with the initial AI data center expected to launch in 2027. Nvidia announced that the internet company Naver and the conglomerate Doosan would also adopt its technology for constructing AI data centres.