Samsung Electronics (KRX:005930) signed a memorandum of understanding with U.S.-based semiconductor and infrastructure software firm Broadcom worth $200 billion, the South Korean chipmaker said in a press release on Saturday.
The agreement is expected to broaden their partnership in memory and foundry operations to support next-generation AI infrastructure.
The five-year partnership was announced during South Korean President Lee Jae Myung's visit to San Francisco, where South Korean firms SK hynix (KRX:000660) and Naver (KRX:035420) also announced partnerships with US firms.
Shares of Samsung fell over 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments