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.
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