Samsung, LG shares rally ahead of Nvidia CEO meetings with Korean executives

Shares in major South Korean technology firms, including Samsung Electronics and LG Electronics, saw significant gains on Monday. The rally was fueled by anticipation of potential collaborations in artificial intelligence and robotics, stemming from upcoming meetings between Nvidia CEO Jensen Huang and top Korean executives.

Huang is slated to visit South Korea later this week for discussions with LG Group Chairman Koo Kwang-mo and other industry leaders. Nvidia is also participating in a "Korean Partner Night" event in Taipei, alongside executives from Samsung, SK Hynix, and other companies.

Samsung Electronics experienced a 9.5% surge in its stock price, pushing its market value beyond 2,000 trillion won ($1.32 trillion). LG Electronics, which is expanding its presence in the robotics sector, saw its shares climb by an impressive 28%. Analysts suggest Huang's visit holds considerable importance, noting Nvidia's need for Korean technological capabilities. Nvidia previously committed to supplying over 260,000 advanced AI chips to South Korea's government and major corporations, including Samsung Electronics and Hyundai Motor Group.

Adding to the positive momentum, Samsung Electronics announced it had begun shipping samples of its latest high-bandwidth memory (HBM) chip, a component critical for AI data centers, ahead of its competitors. Samsung's customer base for these chips includes prominent AI players like Nvidia.

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Jensen's visit to Korea has a major implication. Nvidia needs Korea.