A record-breaking global stock rally stretched into Asia, with equities advancing after OpenAI’s agreement with South Korean chipmakers reinforced enthusiasm for artificial intelligence.
Asian shares rose 1.1%, trading above a record close reached last month, with chip-related stocks leading the charge. Samsung Electronics Co. gained 4.3% and SK Hynix Inc. jumped 10% after OpenAI tapped the companies for chips. That sent South Korean shares to an all-time high. Earlier, the S&P 500, Nasdaq 100 and MSCI’s gauge of global stocks all hit a new peak. Equity-index futures for the US and Europe indicated further gains.