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SK Hynix, Samsung Reportedly to Sign Major Chip Deals With US Tech Firms

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SK Hynix (SKHY) and Samsung Electronics, the South Korean chipmaking giants, are set to sign large supply deals with US technology firms during President Lee Jae Myung's visit to San Francisco, several media outlets reported Friday, citing a senior presidential official.

Kim Yong-beom, the president's policy adviser, told reporters Thursday that the firms would announce long-term memory chip supply contracts that are expected to have "very large and meaningful figures," according to Reuters.

President Lee is visiting San Francisco on Friday and Saturday and is scheduled to meet with US technology executives, including Nvidia (NVDA) CEO Jensen Huang and OpenAI CEO Sam Altman, the report said.

SK Hynix and Samsung Electronics did not immediately respond to' request for comment.

Price: $154.38, Change: $-15.12, Percent Change: -8.92%

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