Samsung Electronics has crossed the $1 trillion market capitalization mark for the first time, fueled by the artificial intelligence chip boom. The South Korean tech giant's shares surged nearly 12% on Wednesday, pushing its value past the milestone as the broader Kospi index hit a record high above 7,000 points.
Samsung, along with domestic rival SK Hynix, is a key supplier of high-performance memory chips critical for AI systems. The company reported a record first-quarter operating profit of 57.2 trillion won ($39.3 billion), a 750% surge year-over-year, attributing the performance to AI technology innovations and strong demand.
Samsung is only the second Asian company, after Taiwan Semiconductor Manufacturing Company, to achieve a $1 trillion market cap. The rally underscores South Korea's ambition to become a top-three AI power alongside the United States and China.