Samsung investors haven't been happy with the company's stock recently. It has been the worst-performing global chipmaker stock and even hit a 4-year low just a few months back. There hasn't been a catalyst that reverses the doom and gloom that surrounds the stock right now.
Investors who are riding out the storm continue to pin their hopes on NVIDIA to provide the catalyst that Samsung needs to bounce back. Shares of Samsung rose over 5% yesterday as investors are hopeful about NVIDIA potentially saying something about the approval of Samsung's HBM3E chips for its AI accelerators.
All eyes on NVIDIA CEO Jensen Huang
NVIDIA sells a lot of AI accelerators and it needs a lot of high-bandwidth memory modules for them. Samsung makes them but it's spent the better part of a year trying to get them certified based on NVIDIA's standards. So far, the company is sourcing the bulk of its HBM modules from Samsung's cross-town rival SK Hynix.
That's not to say that NVIDIA CEO Jensen Huang hasn't continued to provide hope to Samsung that its modules would be approved. He's spoken very positively about Samsung's chances to enter the supply chain for this crucial component, even expressing confidence that Samsung would soon iron out the issues that prevented its entry thus far.
Investors will now closely watch what happens at GTC, NVIDIA's weeklong product event, that kicks off today. Huang is expected to showcase NVIDIA's next-generation of AI chips called Rubin. These are reportedly going to be even better in performance compared to the company's existing Blackwell chips.
Shares of Samsung Electronics were up 5.3% on Monday as investors hope Huang will have favorable things to say about Samsung's HBM3E chips. A confirmation that the company's chips have finally been approved could certainly provide the catalyst its stock needs to mount a serious recovery.
The post Samsung stock jumps as investors pin their hopes on NVIDIA again appeared first on SamMobile.
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