SK Group Chairman Chey Tae-won forecast that artificial intelligence infrastructure demand will continue to grow significantly, citing global big tech companies' requests for memory semiconductors and computing resources that exceed expectations. Speaking at the AI Summit in San Francisco on July 24 (local time), Chey revealed he discussed future AI market and semiconductor demand over dinner with NVIDIA CEO Jensen Huang the previous evening. The remarks came as Korea announced over $3 trillion in investments spanning semiconductor fab expansion, AI data center construction, and physical AI projects.
NVIDIA and Broadcom CEOs Request Unprecedented Chip Volumes
Chey described his July 23 dinner meeting with NVIDIA CEO Jensen Huang, stating that Huang consistently requests more chips at every encounter. "He says 'More chips' every time we meet," Chey said. "Today he said this, but next time we meet, he'll probably say that number was wrong and 'I want more!'"
The SK chairman explained that as AI investment plans become more concrete, the required scale of semiconductors and data centers continues to expand. Chey also disclosed meeting with Broadcom CEO Hock Tan the previous day, noting that Broadcom is requesting memory chips "in numbers that would surprise you if you heard them—beyond what I was expecting."
"And they can fully absorb all of that, and it will probably still be insufficient," Chey emphasized.
OpenAI and Anthropic Seek Massive Computing Infrastructure
Chey reported that both Anthropic and OpenAI are actively working to secure their own computing infrastructure. Regarding OpenAI, he stated: "They say don't give chips to others, give them directly to OpenAI." He added that OpenAI requires "computing power in staggering numbers that would surprise you if you heard them" for this year and next year.
Chey also noted that "Anthropic is continuously checking with us about how many chips are available."
Korea's $3 Trillion AI Investment Reflects Market Reality
Chey emphasized that Korea's recently announced investment of over $3 trillion—covering semiconductor fab expansion, AI data center construction, and physical AI—represents realistic planning rather than exaggerated projections. "I can't help but suspect that what we announced might actually turn out to be too small a number," he said.
However, Chey stressed: "I don't think this was a reckless announcement or statement. We did this based on quite realistic discussions grounded in reality."
Chey Proposes AI-Native Nation Transformation Strategy
Chey presented three key tasks for Korea to emerge as an AI powerhouse: transitioning to an AI-native nation, reducing costs, and minimizing side effects.
He emphasized creating an environment where each citizen can utilize at least one AI agent, transforming Korea into a global testbed for AI technology and services. Chey stated that Korea must expand memory semiconductor production and AI data center construction to lower token costs, positioning the country as an AI infrastructure hub connecting the United States, Europe, and Asia.
Additionally, Chey called for establishing AI governance, creating more new jobs than AI displaces, and developing the AI industry in a direction that minimizes environmental damage.
FAQ
What did SK Chairman Chey Tae-won say about chip demand at the San Francisco AI Summit?
Chey reported that NVIDIA CEO Jensen Huang consistently requests more chips at every meeting, and Broadcom CEO Hock Tan is requesting memory chips in "surprising numbers" that exceed expectations. Chey stated these demands continue to grow as AI investment plans become more concrete.
How much has Korea invested in AI infrastructure according to Chey's remarks?
Chey stated that Korea recently announced over $3 trillion in investments covering three mega-projects: semiconductor fab expansion, AI data center construction, and physical AI. He emphasized this represents realistic planning based on actual market demand rather than exaggerated projections.
