SEOUL, May 6 (Reuters) – The market capitalisation of Samsung Electronics’ common stock surpassed $1 trillion on Wednesday, making it the second Asian company after TSMC to reach the milestone. Samsung Electronics, the world’s top memory chipmaker, saw its market value reach 1,500 trillion won ($1.03 trillion) in early trading in Seoul on Wednesday, tracking […]
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Samsung Electronics’ market cap surpasses $1 trln after US AI chip stocks surge
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SEOUL, May 6 (Reuters) – The market capitalisation of Samsung Electronics’ common stock surpassed $1 trillion on Wednesday, making it the second Asian company after TSMC to reach the milestone.
Samsung Electronics, the world’s top memory chipmaker, saw its market value reach 1,500 trillion won ($1.03 trillion) in early trading in Seoul on Wednesday, tracking sharp gains of AI-related stocks in the U.S. overnight.
Shares of the South Korean chip giant were up 12% at 09:52 a.m. (0052 GMT) in Seoul, outstripping the benchmark Kospi’s 5.4% gain.
The S&P 500 and the Nasdaq notched record-high closes on Tuesday, lifted by Intel and other AI-related stocks, as a U.S.-Iran ceasefire held and investors focused on strong quarterly earnings.
($1 = 1,458.2000 won)
(Reporting by Heejin Kim and Hyunjoo Jin Editing by Ed Davies)