Samsung Electronics Returns to the 94,000-Won Range... Shares Surge Over 5% [Market Focus]

Surpassing the 94,000 Won Mark for the First Time in 4 Years and 9 Months

Samsung Electronics' stock price surged by over 5%, surpassing the 94,000 won mark for the first time in four years and nine months.

As of 9:06 a.m. on October 10, Samsung Electronics was trading at 93,600 won, up 5.17% from the previous day. Shortly after the regular session opened at 94,000 won, the price rose to as high as 94,300 won. This is the first time since January 11, 2021, that Samsung Electronics' stock price has reached the 94,000 won range.

The surge is attributed to the artificial intelligence (AI) boom on the New York Stock Exchange, as well as pent-up buying demand accumulated during the Chuseok holiday period. Previously, on October 6, AMD announced a large-scale graphics processing unit (GPU) purchase plan with OpenAI. AMD signed a contract to supply AI chips worth tens of billions of dollars annually to OpenAI. In addition, if AMD's stock price rises, OpenAI has been granted an option to acquire up to a 10% stake in AMD.

While SK Hynix still dominates the high-bandwidth memory (HBM) market, Samsung Electronics is supplying some HBM chips to AMD.

Ryu Younghwa, a researcher at NH Investment & Securities, stated, "Currently, AMD, a major customer for HBM, has entered into a large-scale GPU supply contract with OpenAI, and full-scale supply of MI450 is scheduled to begin in the second half of next year. The previously sluggish HBM shipment volume is expected to record the highest growth rate among the three major DRAM companies next year, thanks to securing a diverse customer base including AMD."

Yonhap News Agency