Headquarters of Samsung in Mountain View, California, on October 28, 2018.
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Shares of South Korean chip heavyweights Samsung Electronics and SK Hynix surged Thursday, a day after the two companies partnered with artificial-intelligence major OpenAI as part of the U.S. firm’s Stargate initiative.
Shares of Samsung hit their their highest since January 2021, rising over 4%, while SK Hynix stock surged more than 9% to hit its highest since 2000.
OpenAI said in a statement that this partnership will “focus on increasing the supply of advanced memory chips essential for next-generation AI and expanding data center capacity in Korea.”
The ChatGPT-maker said the two chipmakers plan to scale up production of advanced memory chips, which are critical to power its AI models.
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