-- 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.
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