Nvidia and SK Group announced a partnership valued at over $500 billion on July 24, 2026, during an AI summit in San Francisco attended by South Korean President Lee Jae Myung.
The partnership includes the construction of large-scale AI data centers and a supply agreement for advanced AI memory chips utilizing SK Hynix’s HBM technology. SK Telecom will develop a 2-gigawatt AI data center powered by Nvidia’s Vera Rubin processors and SK Hynix’s HBM4 memory, with the first facility expected to begin operations in 2027.
The agreement expands on a prior multiyear technology partnership between Nvidia and SK Hynix announced in June 2026. Jensen Huang, CEO of Nvidia, stated, “SK Group and Nvidia will announce a business partnership between the two companies today… the size amounts to $500 billion.”
Nvidia plans to invest $1 billion into Naver, a Korean cloud company, to enhance its AI data center operations in South Korea. This partnership aims to establish South Korea as a leading global hub for artificial intelligence development.
SK Hynix is Nvidia’s largest memory supplier, and this agreement aims to align future memory output more closely with Nvidia’s chip-development roadmap. The partnership is expected to increase access to large-scale AI infrastructure for businesses, making AI computing capacity available to a wider range of enterprise customers.
Conflicting reports emerged regarding the announcement date of the partnership, with Reuters confirming July 24, while other sources indicate it was announced on July 25, 2026.
