Sam Altman Met About 50 Samsung Executives and SK's Chairman. No Deal Was Announced
OpenAI's chief met about 50 Samsung executives and lunched with SK Group's chairman in Korea on Saturday, as AI soaks up memory chips. No deal, amount or chip allocation was announced.
Part of the running storyAI Memory for 2027 Is Sold Out Before It's Made: What the Evidence SaysOpenAI Chief Executive Sam Altman met about 50 senior Samsung executives on Saturday, 31 October, at Samsung’s training center in Yongin, south of Seoul, Korea’s Yonhap news agency (as carried by Anadolu) and Tech Insider reported. The closed-door session was about how AI could change corporate decision-making. The same day, SK Group Chairman Chey Tae-won hosted Altman for lunch in Seoul with SK hynix and SK Telecom executives; what they discussed wasn’t disclosed, the Seoul Economic Daily reported.
No agreement, amount or chip allocation was announced. Both groups make the memory chips AI data centers are soaking up: SK hynix said this week that it expects demand to outrun supply through 2030 (our story), and Samsung said its 2027 capacity for HBM, the stacked memory used with AI processors, is already booked, the Korea JoongAng Daily reported.
The visit follows October 2025, when Samsung and SK signed letters of intent to supply memory chips for OpenAI’s Stargate data-center project, which OpenAI said could need about 900,000 wafers a month, the Korea Times and KED Global reported. A letter of intent isn’t an order, and neither side has said what Saturday’s talks changed.
Seoul’s market reopens on Monday, 2 November, its first session since Friday’s chip selloff in New York (our story on Seoul’s week).
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Mostly Markets is for information and education only and isn't investment advice. Dev Malhotra is a pen name. Prices are from Nasdaq and CNBC as of the time stated.
