Plus: Samsung plans biggest-ever buyback. And Micron Technology is launching a research institution. Julie Chang hosts.
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[00:00:01] Here's your morning TNB Tech Minute for Friday, August 21st. I'm Nicole Nguyen for The Wall Street Journal. We exclusively report that Nvidia is in advanced talks to invest several hundred million dollars in Cloverleaf Infrastructure, a company securing utility power agreements for data center projects. That's according to people familiar with the matter. The transaction could be announced as soon as this morning, and the exact terms couldn't be immediately learned.
[00:00:28] Over the past two years, Cloverleaf has sold power land projects totaling over 7 gigawatts, including sites in Wisconsin for Oracle and OpenAI. The investment cements Nvidia's role in the early-stage data center ecosystem, ensuring there will be enough data center capacity for its future products. Samsung Electronics has announced its largest-ever share buyback.
[00:00:50] The Korean company, one of the world's top memory chip makers, said it plans to repurchase roughly between $64.5 to $79 billion worth of shares. The move follows mounting pressures on South Korean chip manufacturers to distribute their AI-driven profits among shareholders. Earlier this week, Samsung's peer SK Hynix unveiled its own program to boost shareholder returns, including plans to buy and cancel more than $28 billion worth of shares.
[00:01:19] And Micron Technology is launching Micron Research Labs to help the U.S. get a competitive edge in semiconductor and memory innovation. Micron's CEO told CNBC the labs will be headquartered in Boise with satellite campuses around the globe, and will be backed by a planned $10 billion investment over the next decade. That's your TMB Tech Minute. Join us again this afternoon for more. Thank you.