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Shares of South Korea’s top chipmakers, Samsung Electronics and SK Hynix, soared on Thursday after securing a major partnership with OpenAI to supply advanced memory chips for its next-generation data centres. The announcement added nearly $37 billion to their combined market value, fueling optimism in the semiconductor sector.
Samsung Electronics rallied more than 4%, marking its strongest level since January 2021, while SK Hynix surged over 12% to a record high. Their gains also lifted South Korea’s benchmark KOSPI index, which jumped more than 3% to an all-time peak.
The deal is tied to U.S. President Donald Trump’s $500 billion Stargate artificial intelligence project, which aims to build massive AI-focused data infrastructure. OpenAI will collaborate with the South Korean giants to construct two data centres, often described as a “Korean-style Stargate.”
Analysts believe the partnership could stabilize high bandwidth memory (HBM) chip prices, which were under pressure from growing competition. According to KB Securities analyst Jeff Kim, demand from the Stargate initiative will offset price concerns and strengthen the outlook for both companies. He also noted the project could influence South Korea–U.S. trade talks, potentially easing tensions and benefiting Seoul’s exporters.
The AI-driven chip demand is already reshaping South Korea’s economy. September exports posted their fastest growth in 14 months despite tariff challenges, underscoring semiconductors as a key growth driver. Meanwhile, Seoul is working to finalize a preliminary trade agreement reached with Trump in July, which would cut U.S. tariffs in exchange for a $350 billion Korean investment package. However, negotiations have faced delays due to concerns over foreign exchange impacts and investment structure.
Beyond semiconductors, Samsung affiliates such as Samsung SDI, Samsung C&T, and Samsung SDS also gained momentum, supported by the broader partnership with OpenAI. The collaboration highlights South Korea’s strategic role in the global AI race, strengthening its position as a leader in advanced technology and semiconductor innovation.
