WSJ Tech News Briefing
TNB Tech Minute: Nvidia-Backed AI Startup to Build a Data Center in South Korea
16 Mar 2026
Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
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Pro's number one most trusted app, based on August 2025 proprietary survey. Here's your afternoon TNB Tech Minute for Monday, March 16th. I'm Julie Chang for The Wall Street Journal. We exclusively report that NVIDIA-backed U.S. startup Reflection AI is partnering with South Korea's Shinsegae Group in a multi-billion dollar deal to build one of the nation's largest AI data centers.
The deal helps the Trump administration's plan to export American tech around the world to counter China. Reflection, launched by former Google DeepMind researchers, will develop AI models customized for Korean language and culture. The data center will use tens of thousands of Nvidia chips and is expected to consume 250 megawatts, comparable to a small American city's energy use.
In another exclusive, Intuit is increasing its stock buybacks and ending scheduled stock sales by its senior management team. The financial technology company's moves are meant to shore up a sagging stock price, which is down about 33% this year, as investors worry AI will degrade software providers' businesses. Intuit owns TurboTax, Credit Karma, and QuickBooks.
It plans to roughly double its fiscal 2026 buybacks compared to the prior year. And Micron Technology said it would build a second site in Taiwan to manufacture highly sought-after AI memory products. The Idaho-based chip giant said the facilities would boost its manufacturing capacity for in-demand DRAM and high-bandwidth memory products. Shipments from the new site will begin in fiscal 2028.
Micron also said construction on a similar site is set to begin before the end of the 2026 fiscal year. For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast. How are the U.S. businesses of Philip Morris International invested in America? We're invested in advancing science, giving adults who smoke better options.
We're invested in American manufacturing, helping local economies thrive. We're invested in community, supporting military veterans and their families, disaster relief and economic empowerment. Because we're proud to be invested in America.
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Chapter 2: What is the significance of Nvidia-backed AI startup building a data center in South Korea?
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