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According to a report by South Korean media Newsis citing an advisor to the South Korean President, Samsung Electronics and SK Hynix will collaborate with a large American technology company on a chip project worth 1375 trillion Korean won. SK Group will supply $750 billion worth of chips to American technology companies, including Nvidia. Samsung Electronics and Broadcom have signed a memorandum of understanding to reach a five-year, $20 billion advanced storage chip foundry agreement.