Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions 
US Dollar Rises as Fed Rate Outlook Stays Hawkish, Euro Slips and Yen Near 40-Year Low 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Asian Currencies Rise as Dollar Weakens; Yen Holds Steady Amid Japan Intervention Watch 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Anthropic Restores Claude Fable 5 and Mythos 5 After U.S. Lifts AI Export Controls 
Samsung Electronics has struck a deal with Nvidia, IBM, Qualcomm, and Baidu for the supply of semiconductors. The South Korean memory chipmaker will be producing 3-nanometer process nodes for them.
With the new deals with some of the leading tech firms, Samsung is hoping to outdo its rival TSMC amid the fierce competition in the chip market. Aside from the mentioned companies, Samsung will make the same chip type for other clients as well.
On Tuesday, sources said that the world’s largest chip producer is jointly developing cutting-edge chips with five to six fabless partners for large quantity supply requirements that are needed to be delivered as early as 2024, according to The Korea Economic Daily.
Samsung Electronics will be making use of its 3 nm technology to make graphics processing units or GPUs for the software company, Nvidia and central processing units (CPUs) for IBM. For Qualcomm, the company will make smartphone application processors, and Baidu is requiring artificial intelligence chips that are used in cloud data centers.
It was reported that the major tech firms picked Samsung to be their consignment producer after looking into its 3-nanometer process technology. They also considered their need to have several suppliers, so it was the best choice.
Business observers said that Samsung is relying on its 3 nm technology to outdo the Taiwanese chipmaker, Taiwan Semiconductor Manufacturing Co., in terms of contracts in the industry. This is because Samsung may be the top player in the memory chip industry in the world, but when it comes to the contract manufacturing business, it is only No. 2 behind TSMC. Currently, the Taiwanese semiconductor giant dominates more than half of the foundry market, globally.
Meanwhile, Samsung Electronics owns and operates contract chipmaking facilities in five territories worldwide. These are located in Austin, Texas; Giheung, South Korea; Hwaseong, Pyeongtaek; and Taylor, Texas.
Babak Habibi/Unsplash
