OpenAI is deepening cooperation with Samsung Electronics as the ChatGPT maker develops its own chips, expanding ties with the South Korean technology giant across semiconductors and enterprise AI services.
South Korean battery maker SK On said on Monday it has signed a deal to supply U.S. firm NeoVolta Power with 9 gigawatt-hours (GWh) of lithium iron phosphate (LFP) battery cells for energy storage system use over five years from 2027.
Hyundai Motor said on Wednesday it would launch or refresh more than 100 vehicles globally by 2030 and expand its U.S. hybrid lineup, as the South Korean automaker seeks to lift its operating profit margin above 9%.
Samsung Electronics introduced a new generation of artificial intelligence memory technology on Tuesday, seeking to reinforce its chipmaking lead in the booming AI market.
SK Innovation , the owner of South Korea's top refiner SK Energy, posted an operating profit of 3.5 trillion won ($2.44 billion) for the April-June period, swinging to profit from a 402 billion won loss a year earlier.
Asian semiconductor stocks tumbled on Tuesday, with South Korea leading the regional selloff, as investors questioned lofty valuations amid concerns over AI infrastructure financing and intensifying competition from China.
South Korean chipmaker SK Hynix reported bumper quarterly results on Wednesday but fell short of lofty investor expectations, heightening market concerns about slower AI spending by big tech firms.
Samsung Electronics said on Saturday it struck a pact with U.S. chip designer Broadcom to widen cooperation across memory chips, contract chip making and advanced packaging envisaged to exceed $200 billion until 2030.
South Korea announced $950 billion in new AI initiatives involving Samsung Electronics , SK Group and U.S. tech firms as global AI leaders rush to fill a shortage of faster chips to power and develop more advanced systems.
