SK Hynix and Samsung stocks rise following partnership with OpenAI to boost AI chip production in Korea

Shares of South Korean semiconductor giants SK Hynix and Samsung Electronics surged significantly after the companies announced a partnership with OpenAI under the Stargate initiative. SK Hynix’s stock reached levels not seen since 2000, while Samsung’s shares hit their highest point since January 2021. The collaboration aims to increase the supply of advanced memory chips necessary for next-generation artificial intelligence systems and to expand data center capacity in South Korea. This move came as OpenAI CEO Sam Altman met with South Korean President Lee Jae Myung along with top leadership from both Samsung and SK Hynix. SK Hynix recently declared readiness to mass-produce its advanced high-bandwidth memory (HBM) chips, which are crucial for AI computing power and are used by major clients like Nvidia. Samsung is also working on certifying its next-generation HBM4 chips with Nvidia, challenging SK Hynix’s recent lead in this market segment. Despite Samsung’s Q2 chip division profits dropping nearly 94% year-on-year, the company anticipates a recovery in the second half of the year. The partnership reflects a strategic effort to boost Korea’s presence in the global AI chip market through stronger production and data center infrastructure.