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Samsung and SK Hynix Surge After OpenAI Chip Partnership Boosts AI Optimism

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Shares of Samsung Electronics and SK Hynix soared on Thursday after OpenAI announced a major partnership with the two South Korean chipmakers to support its massive Stargate artificial intelligence data centre project in the United States.

Samsung Electronics jumped 4.7%, reaching its highest level in more than four years, while SK Hynix surged 12% to an all-time high, adding a combined $37 billion in market capitalization.
The rally also lifted South Korea’s benchmark KOSPI index by more than 3%, marking a new record.

MARKET REACTION AND ANALYST INSIGHT

Analysts said the partnership could dispel earlier market fears about potential declines in high-bandwidth memory (HBM) chip prices amid rising competition.

“Such worries will be easily resolved by this strategic partnership,” wrote Jeff Kim, analyst at KB Securities, predicting a sharp rise in chip demand driven by the Stargate project.
Kim added that, since Stargate is a key U.S. government-backed initiative led by President Donald Trump, the collaboration could also positively influence trade negotiations between Washington and Seoul.

DETAILS OF THE PARTNERSHIP

The deal — part of the $500 billion Stargate project aimed at building next-generation AI infrastructure — will see OpenAI, Samsung, and SK Hynix jointly work on semiconductor procurement and the construction of two data centres in South Korea, referred to as a “Korean-style Stargate.”
Each data centre will start with a 20-megawatt capacity, and Seoul hopes the project will help position South Korea as an Asian AI hub, given that the country already ranks second globally in the number of paying ChatGPT subscribers after the United States.

WIDER IMPACT ON SAMSUNG AFFILIATES

Other Samsung affiliates also gained sharply on the news:

  • Samsung SDI rose on expectations of increased demand for advanced power systems.

  • Samsung C&T and Samsung SDS advanced after confirming new roles in AI data centre construction and infrastructure partnerships with OpenAI.

STRONGER EXPORT OUTLOOK

The AI-driven semiconductor boom has been a key factor in South Korea’s economic rebound, with exports rising in September at their fastest pace in 14 months, defying concerns about the impact of U.S. tariffs.
Seoul hopes to finalize a trade agreement with the United States by late October, following a preliminary deal reached in July that would lower tariffs on South Korean imports in exchange for a $350 billion U.S. investment package.

However, officials have said talks have stalled over concerns about foreign exchange risks and the structure of the investment commitments.

Samsung and SK Hynix to Supply Chips for OpenAI’s $500 Billion Stargate Project

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Samsung Electronics and SK Hynix, South Korea’s top semiconductor manufacturers, have signed letters of intent to supply memory chips for OpenAI’s massive Stargate project, marking a major step in Seoul’s growing role in global artificial intelligence infrastructure.

As part of the deal, OpenAI will collaborate with both companies to build two new AI data centers in South Korea, branded as “Korean-style Stargate,” aligning with President Lee Jae Myung’s goal of turning the country into an AI innovation hub in Asia. The decision leverages South Korea’s strong industrial base and its status as the world’s second-largest ChatGPT subscription market after the United States.

The agreements were announced on Wednesday following a high-profile meeting in Seoul between OpenAI CEO Sam Altman, President Lee Jae Myung, and the chairmen of Samsung Electronics and SK Hynix.

The Stargate project, unveiled by U.S. President Donald Trump in January, aims to invest $500 billion into developing next-generation AI infrastructure with global partners such as SoftBank, Oracle, and now the South Korean chip giants. The initiative seeks to secure the computing capacity needed to sustain AI’s rapid growth and maintain U.S. leadership in the field.

South Korea’s presidential adviser Kim Yong-beom revealed that OpenAI plans to order 900,000 semiconductor wafers by 2029 and establish joint ventures with Samsung and SK Hynix to operate two 20-megawatt-capacity data centers domestically.

“The significant part of the Stargate project would be impossible without memory chips from the two companies,” said Kim.

He added that South Korea may also participate in financing the project.

Altman, in his remarks, emphasized the strategic importance of Korea:

“Korea has an industrial base like nowhere else in the world that is critical for the development of AI. We’re very excited to build Stargate Korea with Samsung and Hynix to support the sovereign AI needs of the country.”

Together, Samsung and SK Hynix control about 70% of the global DRAM market and nearly 80% of the HBM (High Bandwidth Memory) market. HBM technology, introduced in 2013, stacks chips vertically to save space, boost performance, and reduce power consumption, making it vital for AI data processing.

Analysts estimate that 900,000 wafers of advanced DRAM could be worth more than 100 trillion won ($70 billion), though prices may fluctuate depending on market conditions.

In addition to the memory supply deals:

  • Samsung SDS, an IT services affiliate, signed a partnership with OpenAI to develop and operate AI data centers under the Stargate framework.

  • Samsung Heavy Industries and Samsung C&T will collaborate on floating offshore data centers, designed to reduce cooling costs and carbon emissions.

Meanwhile, Google has also been in talks with several South Korean companies to explore potential AI collaborations. In June, SK Group announced a 7 trillion won investment, including $4 billion from Amazon Web Services, to build another major data center in the country.

Despite optimism about AI’s transformative potential, some investors remain cautious, citing the risk of a tech infrastructure bubble as companies rush to build large-scale data facilities.

The Stargate project, delayed earlier by prolonged negotiations and site selection, is now poised to gain new momentum through this South Korea partnership, reinforcing the nation’s position at the heart of the global AI supply chain.

SK Hynix Prepares HBM4 Production to Defend Market Lead Over Rivals

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SK Hynix (000660.KS) announced on Friday that it has completed internal certification of its HBM4 (high-bandwidth memory 4) chips and established a production system, positioning itself to maintain its dominance in the advanced memory market.

Key Developments

  • In March 2025, SK Hynix shipped 12-layer HBM4 chip samples to customers.

  • The company aims to complete mass production preparations for these chips within H2 2025.

  • Shares rose 7% to a record high of 328,500 won ($236.71), outperforming the benchmark KOSPI’s 1.5% gain.

Market Context

  • HBM technology: First introduced in 2013, HBM stacks DRAM vertically to save space, cut power use, and process vast data volumes required by AI workloads.

  • Market share: SK Hynix is projected to hold about 60% of the HBM market in 2026, down slightly from its current 66%, according to Meritz Securities.

  • Customers: Nvidia remains its largest client, though Samsung Electronics and Micron supply smaller volumes.

Rival Strategies

  • Samsung Electronics: Plans to use a 1c-nanometer node for HBM4, compared to SK Hynix’s 1b-nanometer process, signaling a push to catch up despite a weaker track record. Samsung already provided HBM4 samples to customers and plans to start supply in 2026.

  • Micron: Competing with custom-built logic dies (“base dies”) that make it harder for customers to switch suppliers.

Industry Impact

  • SK Hynix’s first-mover advantage in HBM4 is expected to secure early contracts with major AI players like Nvidia.

  • Analysts note that customer-specific base dies mark a technological shift that could lock buyers into long-term supplier relationships.

Market Performance YTD

  • SK Hynix: +88.9%

  • Samsung Electronics: +41.7%

  • Micron (Nasdaq): +78.9%

  • KOSPI benchmark: +41.5%