Lee unveils $950 billion AI deals at San Francisco summit

South Korean President Lee Jae Myung concluded a major diplomatic and economic mission in San Francisco on July 25, 2026, announcing a sweeping set of artificial intelligence and semiconductor partnerships valued at approximately $950 billion. The agreements, brokered during a summit with top U.S. and South Korean technology executives, aim to solidify South Korea's position as a critical hub in the global AI supply chain.

The central event was the San Francisco AI Summit held on July 24, where President Lee met with the CEOs of Nvidia, OpenAI, Anthropic, and Broadcom. He was joined by leaders from South Korea's largest conglomerates, including Samsung, SK Group, Hyundai Motor Group, and Naver. At the summit, Lee unveiled a "San Francisco AI Declaration" outlining the country's ambitions for technological cooperation with the United States.

The announced $950 billion figure encompasses several major memorandums of understanding and letters of intent. Samsung Electronics and Broadcom signed an agreement covering roughly $200 billion in cooperation through 2030. The partnership involves Samsung supplying next-generation high-bandwidth memory chips for Broadcom's AI accelerators...