Nvidia reaffirms GPU supply commitment to South Korea after CEO resignation
Nvidia reaffirmed plans to supply up to 260,000 GPUs to South Korea for AI infrastructure after CEO Jensen Huang resigned. Science and ICT Minister Bae Kyung-hoon said Nvidia would continue existing cooperation projects with South Korea, including work involving Samsung Electronics, SK Group, Hyundai and Naver Cloud. The agreement originated at 2023 APEC meetings, according to South Korea.
Why it matters
The reaffirmation reduces immediate uncertainty over South Korea’s planned AI infrastructure buildout and preserves the expected GPU supply relationship with Nvidia. South Korean chip stocks fell after Huang’s resignation, according to KBS, indicating an adverse market reaction despite the supply commitment.
Key facts
- 1Science and ICT Minister Bae Kyung-hoon said Nvidia would honor its pledge to supply up to 260,000 GPUs to South Korea. investing.com
- 2The Nvidia-South Korea agreement was made during 2023 APEC meetings. investing.com
- 3The planned project involves Samsung Electronics, SK Group, Hyundai and Naver Cloud. koreatimes.co.kr
- 4Bae said Nvidia and South Korea would continue their joint AI projects after Huang’s resignation. investing.com
- 5KBS reported that SK hynix shares fell and Samsung Electronics shares dipped after the announcement. kbs.co.kr
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.