[Market Focus] SK Hynix and Samsung Electronics Surge on OpenAI Alliance

On the morning of October 2, Samsung Electronics and SK Hynix both showed strong gains in early trading. The surge in buying appears to be driven by news of their collaboration on OpenAI's 700 trillion won artificial intelligence (AI) project.

As of 9:07 a.m. on this day, SK Hynix shares were trading at 389,250 won, up 8.13% from the previous trading day on the Korea Exchange. After opening at 388,500 won, the stock price soared to as high as 392,500 won during the session, setting a new 52-week high.

At the same time, Samsung Electronics shares also rose by 4.07% to 89,500 won, approaching the so-called "90,000-won Samsung" milestone.

On the previous day, Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won met with OpenAI CEO Sam Altman and signed a letter of intent (LOI) for building global AI infrastructure. Samsung Electronics and SK Hynix will supply high-performance memory semiconductors for OpenAI's "Stargate" project. Stargate is a 700 trillion won initiative in which OpenAI, together with SoftBank and Oracle, plans to build supercomputers and AI data centers across the United States by 2029.

CEO Altman explained, "As OpenAI expands the Stargate project, overall wafer demand could reach up to 900,000 units per month," adding, "We hope to source a significant portion of this demand from Samsung and SK."

Following the agreement, SK Hynix stated, "We will establish a production system capable of responding promptly to OpenAI's HBM supply requests." Samsung Electronics announced, "We plan to support OpenAI with a range of memory products, including HBM, GDDR, and SSD," adding, "We can also provide differentiated solutions such as packaging and memory-system convergence."

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