OpenAI’s Altman meets Samsung executives as chip crunch deepens

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By Bloomberg

Updated - October 31, 2026 at 01:34 PM.

File pic: OpenAI CEO Sam Altman listens to a speaker at the United Nations Security Council during a session on Artificial Intelligence during the 81st United Nations General Assembly, at UN Headquarters in New York City, US, September 23, 2026. | Photo Credit: Brendan McDermid

OpenAI Chief Executive Officer Sam Altman met with Samsung Group’s top executives in South Korea on Saturday to deepen cooperation on memory chips and AI infrastructure as global shortages intensify.

Samsung hosted Altman for talks with about 50 executives from its electronics, financial and biotechnology affiliates in Yongin, south of Seoul, the Korean company said in a statement. The discussions focused on how artificial intelligence can reshape industries, corporate decision-making and business opportunities over the next decade.

The meeting comes as shortages in a broad array of memory products strain the global electronics industry and send chip prices soaring. Demand from data-center operators is intensifying competition for supplies, with the five biggest players in the AI infrastructure race planning to spend more than $3 trillion in the coming years. Memory accounts for roughly a third of data-center spending. 

Altman is the latest American tech leader to visit South Korea, the leader in advanced memory chips and a country where AI adoption is accelerating among businesses and consumers. Nvidia Corp. CEO Jensen Huang and Advanced Micro Devices Inc.’s Lisa Su both visited twice since last year to strengthen supply-chain ties. Technology executives have warned that chip production is struggling to keep pace with demand.

Saturday’s meeting builds on a partnership announced earlier to supply memory chips for OpenAI’s Stargate infrastructure project and cooperate on AI data centers, including floating offshore facilities. Samsung is also accelerating AI adoption across its businesses, from research and manufacturing to marketing and corporate operations.

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©2026 Bloomberg L.P.

Published on October 31, 2026

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