(ABM FN) Shares of Samsung Electronics rose sharply on the Seoul Stock Exchange on Wednesday morning after reports that Nvidia wants to buy next-generation chips from the South Korean chip maker.
Samsung shares rose six percent this morning, the largest daily increase in more than six years.
This rise came in the wake of media reports that Nvidia CEO Jensen Huang will choose Samsung to supply the memory chips that the American company wants to use for the future development of graphics processors.
Samsung declined to comment on the reports on Wednesday.
Samsung said on Wednesday in a statement before the company's shareholders meeting that the South Korean company is expected to begin production of the new artificial intelligence chip in the first half of this year.
Samsung also confirmed its plans to invest 20 trillion won, or about 13.7 billion euros, this year in a memory chip research center in South Korea.
Source: ABM Financial News
ABM Financial News is a resource for stock market news, video and data, both for real-time trading platforms and trading rooms and for online and offline media publications. The information in this article is not intended to provide professional investment advice or a recommendation to make particular investments.
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