HXSCL News & Events

Samsung (SSNLF) and SK Hynix (HXSCL) have signed a letter of intent with Microsoft (MSFT)-backed OpenAI to supply semiconductors for the AI company's $500M Stargate data center project, The Financial Times' Christian Davies reports. The LOI was signed on Wednesday during a visit to Seoul by OpenAI CEO Sam Altman, who met the chairs of SK Group and Samsung as well as South Korea's president Lee Jae Myung. The Fly notes that Nvidia (NVDA) last month announced plans to invest up to $100B in OpenAI in return for a significant stake in the ChatGPT maker, as part of a deal to build up to 10 gigawatts of processing capacity.

SK hynix "announced that it has begun supplying its high-performance mobile NAND solution ZUFS 4.1 to customers, marking the world's first mass production of this solution. The solution's adoption in the latest smartphones reinforces SK hynix's technological excellence in the global market. ZUFS 4.1 will enhance smartphones' powerful on-device AI capabilities, offering users an innovative experience. SK hynix successfully completed the qualification process for the solution in June this year through close collaboration with customers. In July, the company began mass production and started supplying the product."

The U.S. is proposing annual approvals for exports of chipmaking supplies to Samsung (SSNLF) and SK Hynix's (HXSCL) factories in China, Mackenzie Hawkins of Bloomberg reports. Officials in the US Commerce Department presented a "site license" idea to Korean counterparts to supplant indefinite authorizations, people familiar with the matter said.