Nvidia (NVDA) just landed another massive AI win. The U.S. chipmaker will supply more than 260,000 of its new Blackwell AI chips to South Korea’s government and major companies, including Samsung, SK Group, Hyundai, and Naver, marking one of its biggest global deals yet.
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The announcement has lifted Nvidia shares, which are up 1.9% in pre-market trading, recovering from a 2% decline at Wednesday’s close. This deal is seen as a key step for Nvidia as it looks to expand into new markets beyond China, where U.S. trade restrictions have limited exports of advanced AI chips.
Nvidia Expands Its Global Footprint
The agreement comes as Nvidia continues to strike major AI partnerships around the world. These deals helped the company recently become the first $5 trillion firm, showing its dominance in the global chip market.
The plan was announced after Nvidia CEO Jensen Huang met with South Korean President Lee Jae Myung and business leaders from Samsung, SK, and Hyundai during the Asia-Pacific Economic Cooperation summit in Gyeongju.
Huang praised Korea’s industrial success, saying the country can now “produce intelligence as its next great export.”
South Korea Builds AI Infrastructure
As part of the deal, the Korean government will buy 50,000 Nvidia chips to power a new National AI Computing Center. Companies such as Samsung, SK Group, and Hyundai will each receive up to 50,000 chips to support smart factories and AI development.
Naver, Korea’s largest internet and search company, will buy 60,000 chips to boost its cloud and AI services. The deal boosts Korea’s plan to build its AI strength and draw more global tech partners.
Is NVDA a Good Stock to Buy Now?
Analysts remain highly optimistic about Nvidia’s long-term outlook. On TipRanks, NVDA stock has a Strong Buy consensus rating based on 36 Buys, one Hold, and one Sell rating. The average Nvidia price target of $232.94 implies nearly 14.81% upside potential from current levels.
