Samsung Electronics shares jump 7% on AI demand optimism
Samsung Electronics shares surged 7.2% to ₩226,750 on Wednesday, rebounding sharply after heavy losses, driven by strong earnings from US AI server maker Supermicro that revived optimism about sustained global AI investment. Supermicro reported solid quarterly results and raised its gross margin forecast on Tuesday, directly countering concerns about AI spending sustainability that had weighed on semiconductor stocks. The rebound was amplified by Samsung's oversold technical position after a 4% drop on October 20 amid heavy foreign and institutional selling. Samsung had fallen over 17% in the past month on fears of slowing AI investment returns, dragging the KOSPI index, which rebounded over 3% Wednesday. Rival SK Hynix also advanced alongside Samsung.