Samsung, SK Hynix shares surge on news of OpenAI chip deal

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Samsung, SK Hynix shares surge on news of OpenAI chip deal


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<span>STORY: :: File</span><span>Shares in Samsung and SK Hynix surged Thursday (October 2) on news of a deal to supply chips to ChatGPT-maker OpenAI.</span><span>The partnership was announced late the previous day, after OpenAI boss Sam Altman met South Korea’s president in Seoul:</span><span>“We’re very excited to get to build Stargate Korea and data centres with our wonderful partners to support the sovereign AI needs of Korea. We hope to do much more over time. And also Korea has an industrial base like nowhere else in the world that is critical for the development of AI.”</span><span>:: File</span><span>Samsung shares jumped close to 5% on Thursday morning following the news.</span><span>SK Hynix stock surged as much as 12%, hitting all-time highs.</span><span>In all, the rally added about $37 billion to the South Korean pair’s combined value.</span><span>The deal will see OpenAI partner with the chipmakers on semiconductor supplies and its giant Stargate data center project.</span><span>That will include building two big new data centers in South Korea.</span><span>Seoul hopes that can help it become an AI hub for Asia.</span><span>Country president Lee Jae Myung hailed the new technology:</span><span>“What we used to see only in comics has become reality. I think that the development of AI will have consequences almost as momentous as when humanity first developed metal.”</span><span>One analyst said the alliance could also help South Korea win favor in Washington, given the importance of the Stargate project to the Trump administration.</span><span>OpenAI hopes the tie-up can help cement its position in the east Asian nation, which has the second highest number of paying ChatGPT users after the U.S.</span>


South Korea, Samsung, OpenAI, Sam Altman, data centers, GPT
#Samsung #Hynix #shares #surge #news #OpenAI #chip #deal

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