Samsung Electronics and SK Hynix saw their shares rise sharply on October 2 after signing a deal to supply memory chips for OpenAI’s data centers.

Samsung Electronics climbed over 4% to its highest level since January 2021, while SK Hynix rose more than 12% to a record high, lifting the KOSPI index by over 3% to an all-time peak.

OpenAI agreed to work with the two South Korean chipmakers to build two data centers, modeled after the US$500 billion Stargate AI project in the US.

The partnership comes amid strong global demand for semiconductors, which has boosted South Korea’s exports.

Samsung Electronics’ affiliates, including Samsung SDI, Samsung C&T, and Samsung SDS, also saw share price gains after news of partnerships with OpenAI.

Negotiations continue between South Korea and the US over a trade deal tied to US tariffs and South Korean investment, but talks have faced delays over investment structure concerns.

🔗 Source: Reuters

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