South Korea’s presidential office said on July 25 that Korean companies reached semiconductor cooperation agreements worth a combined $950 billion with global technology giants on the sidelines of an artificial intelligence summit in San Francisco. The package includes a memorandum of understanding between Samsung Electronics and Broadcom covering $200 billion in advanced memory chip supply and AI chip foundry production over the next five years. Separately, SK Group is set to pursue a five-year, $750 billion long-term advanced memory chip supply partnership with Nvidia and other major global technology companies. Even so, the deals did not translate into a stronger market reaction. According to Bitget market data, SK Hynix opened higher on the day but kept retreating and was down more than 0.8% by the latest reading. South Korea’s KOSPI index also fell 0.93%. The report said analysts viewed the move as another case of positive AI-related news failing to generate a favorable response in the broader market.
BlockBeats reported on July 27 that South Korea’s presidential office said on July 25 that Korean companies had reached semiconductor cooperation agreements worth a combined $950 billion with global technology giants, using the artificial intelligence summit in San Francisco as the occasion for the deals.
$950 billion in semiconductor cooperation
Samsung Electronics and Broadcom signed a memorandum of understanding covering $200 billion in advanced memory chip supply and AI chip foundry production over the next five years.
In a separate arrangement, SK Group will work with Nvidia and other major global technology companies on a five-year long-term advanced memory chip supply partnership worth $750 billion in total, according to the presidential office.
Market reaction stays weak
For now, the large order announcements have not been enough to reverse the weakness in South Korean equities. According to Bitget market data, SK Hynix opened higher in morning trading and then kept falling back, with losses exceeding 0.8% at the latest reading.
The KOSPI index was also down 0.93%.
The report added that analysts said repeated cases of bullish news fading on impact show that global markets are no longer giving positive feedback to AI-related positives.
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