Samsung Electronics Co. shares jumped more than 5% after reports it’s won approval from Nvidia Corp. for the use of advanced memory chips, which marks a breakthrough for the Korean technology leader.
The stock climbed at its peak to the highest since August 2024. Monday’s gain comes after local media including the Korea Economic DailyBloomberg Terminal reported that Samsung’s 12-layer HBM3E product recently passed Nvidia’s qualification tests. That clears the components for use in the AI accelerators essential to the training of AI models from ChatGPT to DeepSeek, and finally allows Samsung to compete with SK Hynix Inc. with higher-end products.