Samsung and SK Hynix shares rise after OpenAI deal
Samsung and SK Hynix became OpenAI partners in chip supply for Stargate. Their shares hit multi-year highs, while the KOSPI index reached a record level.
Shares of South Korean tech giants Samsung Electronics and SK Hynix jumped sharply on Thursday after announcing a partnership with OpenAI under the large-scale Stargate project to build artificial intelligence data centers.
Samsung stock rose 4.7%, hitting its highest level in more than four years, while SK Hynix soared 12%, setting an all-time record. The companies’ combined market capitalization increased by $37 billion, which also pushed the KOSPI index up more than 3% to a new all-time high.
Graph of KOSPI index value. Source: google.com
The deal includes collaboration on HBM memory supplies and the construction of two data centers in South Korea. The new 20 MW facility is expected to help Seoul secure its status as Asia’s AI hub. At the same time, OpenAI aims to strengthen its presence in the country, which ranks second globally in the number of paid ChatGPT users after the U.S.
KB Securities analyst Jeff Kim noted that the alliance alleviates concerns over falling HBM prices due to competition, as the Stargate project will guarantee sustained demand. He added that, given the political significance of the project for the U.S. administration, the partnership could also influence trade negotiations between Seoul and Washington.
Earlier reports indicated that South Korea is negotiating a reduction in U.S. tariffs in exchange for $350 billion in investments. The new partnership with OpenAI may serve as an additional bargaining chip in those talks.
Thus, the agreement with OpenAI strengthened the market positions of Samsung and SK Hynix and symbolized how global demand for AI infrastructure directly impacts international stock markets.
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