Shares of South Korean billionaire Jay Y. Lee’s Samsung Electronics and billionaire Chey Tae-won’s SK Hynix surged to record levels after the companies joined forces with OpenAI to help with the American AI titan’s Stargate data center project.
#OpenAI, run by billionaire Sam Altman, unveiled Wednesday a raft of strategic partnerships with Samsung Group, SK Group and South Korea’s Ministry of Science and ICT to support the Stargate initiative, a $500 billion project to develop AI data center infrastructure for OpenAI.
Since launching in January,
#Stargate has already onboarded the likes of billionaire Jensen Huang’s Nvidia, software giant Oracle and SoftBank-backed chip design company Arm.
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