A stray comment from Nvidia CEO Jensen Huang gave Samsung’s shares a boost; here's what it was and how much the share rose
Nvidia and its CEO Jensen Huang as they are integral to the AI boom. His recent comments about Samsung boosted the shares of the company, as per reports.
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Samsung's stocks rise
On Wednesday, the stock of Samsung Electronics jumped by 2.8% in South Korea, a day after Huang gave tentative support to the Korean chipmaker's high-bandwidth memory (HBM) chips, reported Fortune.
Huang stated on Tuesday that the company was studying HBM chips made by Samsung and Micron Technologies and added that Samsung chips had so far passed Nvidia's tests, according to Fortune.
Samsung competes
Although Samsung has not gained as much success in AI as SK Hynix, the latest remark from Huang has led to optimism about the company's future. Currently, SK Hynix is the primary provider of HBM to Nvidia.
Samsung is making efforts to increase its presence in AI by upscaling its supply of HBM chips this year. In an effort to lead this program, the company recently replaced the head of its semiconductor division with a memory chip veteran, as per the report.
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