Samsung Electronics stock surges on Nvidia partnership speculation

The stock price of Samsung Electronics experienced a significant surge of more than 5%, driven by comments made by Nvidia CEO Jensen Huang. Huang's remarks fueled expectations that Samsung Electronics could potentially supply high-bandwidth memory chips to Nvidia, which commands 80% of the global AI chip market. This boost comes amidst Samsung Electronics' expressed ambition, outlined during its regular shareholders' meeting on Wednesday, to reclaim its position as the world's leading semiconductor manufacturer within the next two to three years, a title currently held by Intel.

On Wednesday, Samsung Electronics closed at 76,900 won, marking a 5.63% increase from the previous day and reaching its highest point since January 3 (77,000 won). The uptick in stock price was attributed to Nvidia CEO's statement indicating the company's testing of Samsung Electronics' HBM and expressing high expectations for its performance.

During the 55th shareholders' meeting held at the Suwon Convention Center, Samsung Electronics CEO Kwon Gye-hyun conveyed confidence in the company's competitiveness within the semiconductor industry. "This year will mark a year of full recovery and growth. We are committed to regaining the global No. 1 position in the semiconductor market within two to three years,” he said. “Samsung Electronics will enhance the size and quality of its semiconductor research lab, aiming for a significant expansion that could double its capacity and capability."


변종국 기자 bjk@donga.com