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Shares of Samsung Electronics (OTC:SSNLF) surged in Seoul and closed 2.76% higher on Tuesday, after Nvidia (NASDAQ:NVDA) CEO Jensen Huang disclosed that the South Korean giant has been selected to manufacture its latest AI chips.
Huang announced this at the GTC developer conference in California on Monday.
The CEO launched Nvidia’s new AI inference processor built with technology from Groq, crediting Samsung for manufacturing the chips, which are already in production and set to ship in the second half of the year.
NVIDIA acquired chip startup Groq for $20.6 billion in December.
Huang doubled the AI demand outlook to $1 trillion at …
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