Samsung logo displayed on a phone screen with a binary code reflected on it, a laptop keyboard, a memory card, an adaper and cables are seen on this illustration photo taken in Krakow, Poland on January 30, 2023. (Photo by Jakub Porzycki/NurPhoto via Getty Images)
Jakub Porzycki | Nurphoto | Getty Images
Shares of South Korean heavyweight Samsung Electronics soared more than 5% Wednesday after reports of interest from chip giant Nvidia.
Earlier on Wednesday, media reports emerged that Nvidia co-founder and CEO Jensen Huang hinted during a media briefing that his firm is within the strategy of qualifying Samsung Electronics’ new-generation high-bandwidth memory chips for its graphics processing units.
“HBM memory may be very complicated and the worth added may be very high. We’re spending numerous money on HBM,” Huang said, in comments carried by the Korea Economic Every day. He reportedly added that Nvidia is within the strategy of testing Samsung Electronics’ HBM chips.
“Samsung is superb, a excellent company,” Huang signaled.
The qualification process will likely involve checks to see whether the chips meet Nvidia’s specific requirements. It doesn’t oblige the corporate to buy Samsung’s supply.
This comes after rival SK Hynix announced that it was set to deliver its high-bandwidth memory (HBM) chips to customers, with Reuters saying that Nvidia could be its first client.
Shares of SK Hynix plunged as much as 3.56% on Wednesday.
Samsung’s day by day gain Wednesday was the biggest percentage jump the stock has seen since September, in line with Reuters data.
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In the course of the annual general shareholders’ meeting of Wednesday, Samsung Electronics co-CEO Kye-Hyun Kyung said the corporate expects to log $100 million or more of revenue from its next batch of advanced chip-packaging products in 2024, in line with Reuters. The firm arrange the advanced chip packaging unit last yr.