Gotrade News - Nvidia unveiled a series of AI data center deals with SK Hynix, Naver, and Doosan in South Korea. The announcement instead triggered a sharp global chip-stock selloff on Monday, June 8, 2026.
Markets reacted poorly as strong US jobs data revived expectations of Federal Reserve rate hikes. The Kospi index slid 9% while Nvidia shares themselves fell 6.20% on the announcement day.
Key Takeaways
Nvidia struck multi-year partnerships with SK Hynix, Naver, and Doosan for South Korea's AI infrastructure.
The Kospi fell 9%, Samsung dropped 7.8%, and SK Hynix declined 4.1% on the same session.
Shares of Nvidia (NVDA) also corrected 6.20% on rate-hike worries.
Partnership Details
According to Investing.com, SK Hynix was named Nvidia's largest memory partner under a deal spanning more than two years. The agreement includes extension options and supply of advanced memory for AI data centers.
SK Telecom will build a gigawatt-scale AI cloud, with its first data center operational in 2027. SK Group Chairman Chey Tae-won attended the announcement event in person.
Per Nvidia CEO Jensen Huang, the company already buys billions of dollars from SK Hynix every year. He added that this purchasing volume is set to grow substantially going forward.
This surge in memory demand also spotlights other suppliers such as Micron (MU). Investors view the AI memory cycle as a key driver of industry capital spending.
As reported by TechBuzz.ai, Naver will use Nvidia's DSX platform to build sovereign AI capabilities. Starting capacity is 55 megawatts, with an ultimate gigawatt-scale goal costing tens of billions of dollars.
Doosan partnered with Nvidia on a physical AI and robotics push across divisions from Robotics to Enerbility. Doosan also produces materials used in Nvidia's Blackwell chips.
Nvidia's supply to Doosan spans GPUs, Jetson edge AI, and the Omniverse platform. This strategy marks a shift in focus from pure cloud toward physical artificial intelligence.
The broad sentiment also pressured semiconductor ETFs such as the VanEck Semiconductor ETF (SMH). The chip sector index serves as a quick barometer for global AI spending expectations.
For retail investors, this sharp correction reflects macro sentiment more than the deals' fundamentals. Capital flowing into Korea's AI infrastructure still signals robust long-term demand.
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