The recent jump in shares of Samsung in South Korea caused the technology and cell phone company to surpass the market value of $1 trillion last Wednesday (5).
With this, Samsung becomes the second most valuable Asian company in the region, after TSMCto achieve this milestone.
Known for cell phones, Samsung is the world’s largest manufacturer of high-performance memory chips and has seen its market value reach 1.5 quadrillion won ($1.03 trillion) in early trading in Seoul on Wednesday, tracking strong gains in stocks related to artificial intelligence (AI) in the United States.
Thus, shares of the South Korean chip giant jumped more than 12% in Seoul, surpassing the 5.4% gain of the benchmark Kospi index.
Samsung balance sheet
Samsung recently reported a record quarterly profit, driven by a 49-fold jump in chip profit, saying it expects a severe supply shortage to deepen next year as customers invest in AI, elevating the prices of its memory chips.
The world’s largest memory chip maker by sales also said it had signed binding multi-year contracts with customers in hopes of securing supply, without disclosing identities or terms.
A boom in building AI data centers has pushed Samsung and other chipmakers to allocate production capacity to advanced chips that Nvidia (NVDA) uses in its so-called AI accelerators.
*With information from Reuters.
Source: www.moneytimes.com.br
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