Seoul: Shares of South Korea’s semiconductor giants Samsung Electronics and SK Hynix skyrocketed on Thursday after the companies announced a partnership to supply memory chips for OpenAI’s upcoming AI data centers. The market reacted enthusiastically, pushing the combined market capitalization of the two firms up by nearly USD 37 billion.
Samsung’s stock climbed over 4%, reaching levels unseen since early 2021, while SK Hynix soared 12%, marking new record highs. The bullish sentiment extended to South Korea’s benchmark KOSPI index, which rose more than 3%, reflecting investor optimism over the nation’s role in the burgeoning AI industry.
The deal positions Samsung and SK Hynix as critical suppliers for OpenAI’s infrastructure project, internally referred to as “Stargate”, which aims to accelerate the deployment of high-performance AI systems. Market analysts view this as a buffer against potential drops in high-bandwidth memory (HBM) prices, which had been a concern due to increasing competition in the semiconductor sector. By securing long-term contracts with a leading AI developer, the two companies are expected to enjoy stable demand and enhanced revenue visibility for the coming years.
Beyond the immediate stock surge, the partnership carries broader economic significance. South Korea’s semiconductor exports in September recorded their fastest growth in 14 months, defying expectations amid rising global trade tensions and U.S. tariffs. Experts suggest that the OpenAI collaboration could strengthen Seoul’s negotiating position with Washington, particularly in discussions surrounding tariffs, investment commitments, and trade agreements, given the political and technological importance of AI infrastructure.
The announcement also positively impacted other Samsung affiliates. Stocks of Samsung SDI, Samsung C&T, and Samsung SDS experienced notable gains during early trading sessions, reflecting investor confidence in the wider Samsung ecosystem benefiting from AI-driven growth. Analysts predict that continued investment in AI-related technologies could sustain momentum in the South Korean tech sector, further reinforcing the nation’s reputation as a global semiconductor hub.
With AI demand surging worldwide, the partnership between South Korea’s semiconductor leaders and OpenAI is shaping up as a pivotal development highlighting the growing interdependence between advanced technology providers and global AI enterprises.