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Market Chatter: Samsung Electronics' Market Valuation Tops $1 Trillion on Strong AI Chip Demand

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-- Shares of Samsung Electronics (KRX:005930) surged nearly 12% in Wednesday morning trade to hit a market valuation of $1 trillion, supported by the strong demand for AI chips, Bloomberg News reported on the same day.

The South Korean chipmaker became the second Asian firm after Taiwan Semiconductor Manufacturing (TPE:2330) to hit the $1 trillion mark, the report said.

Overseas investors appear to be driving the recent rally in the stock, supported by a deal between Interactive Brokers and Samsung Securities (KRX:016360) that allows U.S. investors to directly buy South Korean stocks, it said.

The firm's semiconductor wing had posted record profit in the first quarter, surpassing expectations by a wide margin on strong AI data center demand, with analysts expecting the momentum to continue in the quarters ahead as contract prices keep moving higher amid a scarce supply, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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