Samsung Electronics' market capitalization has exceeded $1 trillion amid a sharp surge in the company's shares. This was reported by Reuters, according to UNN.
Details
During trading in Seoul on Wednesday, the company's value reached approximately 1,500 trillion won, equivalent to about $1.03 trillion. Samsung shares jumped 12%, significantly outperforming market dynamics – the Kospi index rose by 5.4%.
This made the company the second in Asia after TSMC to reach the $1 trillion market value milestone.
Growth supported by AI company stocks in the US
The rise in Samsung's value followed the rapid growth of US technology companies related to artificial intelligence. The S&P 500 and Nasdaq indices hit record highs the day before, driven in particular by shares of Intel and other players in the chip market.
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Investors also reacted to the stabilization of the geopolitical situation following the observance of the ceasefire between the US and Iran, as well as strong quarterly corporate reports.
Samsung Electronics remains the world's largest manufacturer of memory chips, which are actively used in the field of artificial intelligence. Growing demand for such technologies continues to support the company's market value.
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