Samsung Electronics (005930.KS) and SK Hynix (000660.KS) have signed letters of intent to supply memory chips for OpenAI's data centres, as South Korean chipmakers join forces with the ChatGPT maker to meet rising demand from its Stargate project.

The announcements were made on Wednesday after OpenAI CEO Sam Altman met South Korean President Lee Jae Myung and the chairmen of Samsung Electronics and SK Hynix at the presidential office in central Seoul.

U.S. President Donald Trump unveiled the $500 billion Stargate project in January, charging OpenAI and partners including SoftBank (9434.T) and Oracle (ORCL.N) with ensuring the U.S. remains a leader in artificial intelligence.

Expanding chip availability was one of the key ideas of the project, and Nvidia (NVDA.O) said last week it would

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