[Market Focus] Jensen Huang: "AI Power Demand Remains Strong"... Nuclear Power Stocks Rally

Doosan Enerbility and Hyundai Engineering & Construction Rise Together

Shares of companies related to nuclear power generation, such as Doosan Enerbility and Hyundai Engineering & Construction, are showing strong performance. This appears to be influenced by Nvidia's better-than-expected results in the first quarter of this year, which demonstrated that electricity demand related to artificial intelligence (AI) infrastructure remains robust.

As of 10:09 a.m. on May 29, Hyundai Engineering & Construction shares were trading at 65,000 won, up 6.91% from the previous day. At the same time, Doosan Enerbility shares were trading at 41,900 won, up 5.28% from the previous day.

This is interpreted as a result of Nvidia CEO Jensen Huang announcing better-than-expected first-quarter results on May 28 (local time) and stating that "global demand for AI infrastructure remains very strong." As demand related to AI increases, operating data centers requires a massive amount of additional electricity, which in turn further highlights the necessity of nuclear power generation.

Meanwhile, Nvidia recorded sales of $44.06 billion (approximately 60.6 trillion won) and earnings per share of $0.96 (about 1,320 won) in the first quarter of this year (February to April). Both figures exceeded market expectations, which were sales of $43.31 billion and earnings per share of $0.93.