Shares of Samsung Electronics (OTCPK:SSNLF) rose more than 5% after reports that it has won approval from Nvidia (NASDAQ:NVDA) for the use of advanced memory chips.
The stock climbed to its highest since August 2024 on the Korea Exchange.
Monday’s gain comes after local media, including the Korea Economic Daily, reported that Samsung’s 12-layer HBM3E product recently passed Nvidia’s (NASDAQ:NVDA) qualification tests.
This paves the way for those components to be used in AI accelerators crucial for training models ranging from ChatGPT to DeepSeek (DEEPSEEK) and ultimately positions Samsung (OTCPK:SSNLF) to compete with SK Hynix (OTCPK:HXSCF) in the high-end market, according to reports.
The company’s shares on KRX are up roughly 20% this month on expectations that commodity memory chips—where Samsung still leads—will face supply shortages next year. U.S.-listed shares are up 4% YTD.
