Executives from Samsung, SK Group, Nvidia, Broadcom and Anthropic met South Korean president Lee Jae-myung at The Midway in San Francisco on Friday, and left having agreed to pursue chip supply and manufacturing partnerships worth a combined $950 billion.
What the number is made of
Two commitments account for all of it. SK Group agreed to a long-term advanced-memory supply arrangement worth $750 billion, anchored by Nvidia. Samsung Electronics signed a five-year memorandum with Broadcom worth up to $200 billion, covering memory supply, AI chip foundry work and advanced packaging. Presidential policy chief Kim Yong-beom put both figures on the record, calling them advance orders for memory chips on that scale.
Agreed to pursue, not signed
The wording matters. These are memoranda and advance orders, not executed binding contracts, and some coverage has already compressed them into supply "locked in through 2030." Nor do the components stack: adding the SK-Nvidia partnership to SK's own figure double-counts the same commitment.
The scale being discussed
Around 150 executives, investors and researchers attended. AI data center capacity discussed across the day totaled roughly 5 gigawatts and about 2 million GPUs. SK chairman Chey Tae-won, asked whether the numbers were final, said he would not be surprised if Jensen Huang told him they were too low.
What sits alongside it
Announced separately the same day, and additional to the $950 billion: Nvidia and Brookfield committed a combined $10 billion to triple Naver's AI factory to 200 megawatts, of which Nvidia's own share is $1 billion.
Check the date before you cite it
A large share of the coverage dates the summit to July 25, because Korean outlets published on Saturday morning local time. The event itself was Friday, July 24, San Francisco time. One widely shared headline also credits the full $950 billion to Samsung alone; Samsung's share is the $200 billion Broadcom memorandum.