Shares of Samsung Electronics (005930.KS), opens new tab rose as much as 5% on Tuesday after Nvidia (NVDA.O), opens new tab CEO Jensen Huang said the South Korean company was producing Nvidia's new artificial intelligence chips. The news fuelled expectations that Samsung's foundry division, which makes logic chips for customers including Tesla (TSLA.O), opens new tab , Apple (AAPL.O), opens new tab and Samsung's phone division, may be able to turn around as early as next year after posting billions of dollars in annual losses in recent years, analysts said. The Reuters Iran Briefing newsletter keeps you informed with the latest developments and analysis of the Iran war. Sign up here. Advertisement · Scroll to continue
At Nvidia's GTC developer conference in California on Monday, Huang unveiled Nvidia's new AI inference processor based on technology from chip startup Groq. "I want to thank Samsung who manufactures the Groq LP30 chip for us and they're cranking as hard as they can," he said, adding the chips were in production, and would be shipped in the second half of this year. Samsung also showcased the Nvidia chips made using its 4-nanometer manufacturing process at the GTC. Samsung shares were up 4.3% at 196,800 won as of 0252 GMT, after earlier reaching 198,000 won. The broader market (.KS11), opens new tab was up 2.7%.
