[Market Feature] Hyundai Autoever Surges Over 15% on Expectations of Group AI Business Benefits

Hyundai Autoever's stock price is showing strong performance. This is due to expectations that Hyundai Autoever will benefit from artificial intelligence (AI) business opportunities within the Hyundai Motor Group, following the decision for global semiconductor company Nvidia to supply its Blackwell GPUs (graphics processing units) to the group.

As of 10:04 a.m. on November 3, Hyundai Autoever was trading at 234,250 won, up 30,750 won (15.11%) from the previous trading day. During the session, Hyundai Autoever hit a new 52-week high of 238,000 won, marking a 16.95% increase.

Previously, Hyundai Motor Group announced that it would receive 50,000 units of Nvidia's Blackwell GPUs from next year through 2030. The group plans to establish a Physical AI Application Center and a data center.

On this day, DB Securities maintained its "Buy" investment rating on Hyundai Autoever, stating that "solid performance and the company's AI role within the group are coming into focus," and raised its target price to 260,000 won. For the third quarter, Hyundai Autoever reported sales of 1.0543 trillion won and operating profit of 70.8 billion won, up 17% and 35% year-on-year, respectively, exceeding the market consensus.

Nam Jooshin, a researcher at DB Securities, said, "Although there are currently no confirmed Nvidia-related businesses, potential business models could include GPU purchasing agency services, asset construction and subsequent rental (subscription model) within the data center, and GPU/software (SW) platform subscription services." He added, "In the mid- to long-term, Hyundai Autoever is expected to play a key role in building AI infrastructure within the group."

This content was produced with the assistance of AI translation services.