Nvidia's Slurm Acquisition Sparks Monopoly Fears Across Supercomputing Industry

*Editor's Note: 'AI PRISM' (Personalized Report & Insight Summarizing Media) is an 'AI-based customized news recommendation and summarization service' developed with support from the Korea Press Foundation. It selects and provides six tailored news stories for each reader type.

1. "Iran War-Driven Inflation Raises Private Credit Risk"

- Key Summary: JPMorgan Chase CEO Dimon warned in his annual shareholder letter that the Iran war has brought oil and commodity price shocks and forced a restructuring of global supply chains. He identified "gradually rising inflation" as the biggest issue this year, raising the possibility of higher interest rates and falling asset prices. The private credit market totals $1.8 trillion and systemic risk remains low, but he warned that a lack of transparency and loosened covenants could lead to larger-than-expected leveraged loan losses when the credit cycle turns. U.S. household net worth currently stands at 560% of GDP, and a sharp drop in asset prices could deliver a severe shock to global markets.

2. Nvidia's Slurm Acquisition Rattles Supercomputing Industry

- Key Summary: SchedMD, which Nvidia acquired in December last year, is the operator of Slurm, an open-source software critical for training AI large language models (LLMs). Anthropic, Meta, Mistral and others use the software, and approximately 60% of the world's supercomputers have adopted the system. The industry is concerned that Nvidia could check competitors by applying updates to its own chips first. Nvidia controls approximately 80–90% of the AI GPU market, and wariness toward the company has intensified further.

3. Operating Profit of 320 Trillion Won This Year, 488 Trillion Won Next Year — Aiming to Overtake Nvidia for World No. 1

- Key Summary: Samsung Electronics' first-quarter operating profit reached 57.2 trillion won, delivering an earnings surprise that beat market expectations of 40.2 trillion won by 42.3%. The DS division accounted for an estimated 53 trillion won, with DRAM generating approximately 44 trillion won and NAND flash approximately 10 trillion won in profit. DRAM fixed transaction prices soared 39.8% in a single quarter and NAND flash surged 208.8%, signaling the full onset of a memory super cycle. Securities firms have set the highest full-year operating profit forecast for this year at 321.7 trillion won, with projections of 488 trillion won by 2027 that would surpass Nvidia.

4. Morgan Stanley: "Korea Growth at 1.8% This Year Due to Middle East War… Second Supplementary Budget Possible in H2"

- Key Summary: Morgan Stanley cut its South Korea economic growth forecast by 0.3 percentage points to 1.8% from 2.1%, citing the impact of geopolitical conflict originating from the Middle East. Weaker non-semiconductor export recovery and consumption slowdown due to rising oil prices are the key factors, with consumer prices expected to peak at 2.8% in the second quarter. Two supplementary budgets may be drawn up this year, with the first expected to boost growth by approximately 0.15 percentage points. The Bank of Korea's rate hike timing has been pulled forward by three quarters from the previous estimate, with the terminal rate expected to reach 3.0%.

5. Korea's First BDC Launches, but Cautious on Listing Timeline

- Key Summary: Korea's first Business Development Company (BDC), "Shinhan Innovative Corporate Growth Investment Trust No. 1," has begun investor recruitment, marking the dawn of the BDC era. The management fee is 1.04% annually — half the venture fund average of 2% — with performance fees collected on returns exceeding 8% per year. The core strategy combines venture secondary investments and credit strategies, with a design focused on rapid recovery and downside risk management. However, the actual KOSDAQ listing timeline remains uncertain due to delays in sourcing investments and National Assembly review of the Special Tax Treatment Control Act amendments.

6. Iran's Revolutionary Guard Suddenly Seizes Qatar LNG Tankers After Granting Passage

- Key Summary: Iran's Islamic Revolutionary Guard Corps suddenly blocked passage through the Strait of Hormuz for two LNG tankers belonging to QatarEnergy, reigniting energy supply anxiety. Passage had been permitted following an agreement with the United States last week, but Iran reversed its position one day before the negotiation deadline. Tensions in the global energy market are escalating as the Strait of Hormuz, responsible for approximately one-fifth of the world's oil and LNG shipments, faces a blockade crisis. Qatar is the world's second-largest LNG exporter, and Iranian strikes have knocked out 17% of its export capacity, with facility repairs expected to take three to five years.