Samsung Electronics’ market cap surpasses $1 trln after US AI chip stocks surge

SEOUL: The market capitalisation of Samsung Electronics’ common stock surpassed $1 trillion on Wednesday, making it ‌the ⁠second Asian ⁠company after TSMC to reach the milestone.

Samsung Electronics, the world’s top memory chipmaker, saw its market value reach 1,500 trillion won ($1.03 trillion) ⁠in early trading ‌in Seoul on Wednesday, tracking sharp gains ⁠of AI-related stocks in the U.S. overnight.

Shares of the South Korean chip giant were up 12% at 09:52 a.m. (0052 GMT) in Seoul, outstripping the benchmark Kospi’s 5.4% ‌gain.