South Korean semiconductor giants Samsung Electronics and SK Hynix are expected to announce several major artificial intelligence partnerships in Silicon Valley, including long-term supply agreements for high-bandwidth memory chips and investments in AI data centers.

The expected announcements coincide with South Korean President Lee Jae Myung’s visit to San Francisco for an AI summit. South Korean officials said negotiations between Korean companies and major U.S. technology firms are nearing completion, with long-term supply contracts, strategic investments and memorandums of understanding expected.

HBM chips are essential components in AI servers and next-generation GPUs. Samsung and SK Hynix together control approximately 80% of the global HBM market, making the potential agreements closely watched by the technology industry.

Samsung Electronics Chairman Jay Y. Lee, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung and Naver founder Lee Hae-jin are expected to attend the summit. They will meet U.S. technology leaders including Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei.

The visit is part of South Korea’s broader effort to expand semiconductor manufacturing and AI infrastructure. Seoul hopes the planned chip and data center projects will deepen technology cooperation between South Korea and the United States. Although Washington has encouraged Korean chipmakers to increase U.S. production, South Korean officials said no formal investment request has been made.