SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
UK House Prices Hold Steady in June as Annual Growth Misses Forecasts 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
Microsoft Reportedly Plans New Job Cuts Across Sales, Consulting, and Xbox 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Buffett Delays Gates Foundation Donation Pending Epstein Ties Review 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
US Jobs Report Preview: June Payroll Growth Seen Slowing as Fed Rate Decision Looms 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
Asian Stocks End Strong Quarter as Dollar Surges, Yen Hits 40-Year Low Ahead of US Jobs Data 
Gold Price Drops to Eight-Month Low as Fed Rate Hike Bets Weigh on Bullion. Source: Photo by Michael Steinberg via Pexels 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
Samsung C&T Corp., the construction arm of Samsung Group, has signed a partnership deal with NuScale Power, an American private company that designs and markets small modular reactors (SMR), headquartered in Tigard, Oregon.
The South Korean company teamed up with NuScale Power to expand its business and enter the SMR business global market. For the signing of the Memorandum of Understanding (MoU),
Samsung C&T chief executive officer Oh Se Chul, and NuScale’s chief John Hopkins met up at the latter’s headquarters in Oregon on Monday, May 9, as per The Korea Herald.
The companies agreed to form a comprehensive partnership for joint SMR market development and expansion. It was added that Samsung C&T has been continuously working on improving its strategic partnership with the SMR firm through equity investment worth around $20 million that was given in 2021 and provided an additional $50 million this year.
In any case, under the agreement, Samsung C&T and NuScale Power agreed to share technologies and skills to enhance their respective companies. They will be doing this by swapping engineers even from the construction phase of building their plant.
Samsung C&T has already constructed 10 nuclear power plants in South Korea and it is still planning to enter the SMR industry and actively engage in projects related to this biz. The projects are the ones that NuScale is working on at the moment with the Romanian government in Europe.
“With this MOU, it is expected that there will be great progress in SMR business development through stronger cooperation between NuScale and Korean strategic investors”, Samsung C&T vice president, Lee Byung Soo Lee, said in a press release. “I think SMRs will play an important role to respond to the demand of carbon-free and climate change.”
NuScale’s CEO added that he and his team are especially grateful to have joined forces with a world-renowned company - the Samsung C&T. Together with Samsung, he said that NuScale will work toward “bringing its groundbreaking, advanced nuclear technology to countries and communities around the world.”
Hopkins went on to add, “Building upon the incredible momentum of this existing partnership, today’s announcement is a key example of smart collaboration among nuclear industry leaders and innovators.”
