Summary Samsung Electronics’ market value crossed $1 trillion, becoming Asia’s second after TSMC, as AI-driven gains lifted shares 12% and boosted global chip stocks.
SEOUL (Reuters) - The market capitalisation of Samsung Electronics' (005930.KS) common stock surpassed $1 trillion on Wednesday, making it the second Asian company after TSMC (2330.TW) 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.
The S&P 500 and the Nasdaq notched record-high closes on Tuesday, lifted by Intel (INTC.O) and other AI-related stocks, as a U.S.-Iran ceasefire held and investors focused on strong quarterly earnings.
($1 = 1,458.2000 won)
