Samsung Gains 6% on Reports It’s Joining Nvidia AI Suppliers (1)

Samsung Electronics Co. leapt more than 6% on reports the company has won the right to supply advanced memory chips to AI leader Nvidia Corp.

South Korea’s largest electronics firm will begin supplying HBM3 — a newer generation of memory optimized to work with artificial intelligence accelerators — from the fourth quarter, Citigroup analysts including Peter Lee wrote in a report. Its shares gained their most since January 2021. Arch-foe SK Hynix Inc. has so far been Nvidia’s sole provider of high-bandwidth memory for AI accelerators.

“Following its successful entrance into Nvidia’s HBM supply chain, we foresee Samsung to emerge ...