Samsung Electronics stock jumps 7% on AI demand hopes after Supermicro earnings
Samsung Electronics stock surged 7.2% to ₩226,750 on Wednesday, reversing the prior day's losses after strong earnings from U.S. AI server maker Supermicro reignited optimism about artificial intelligence investment durability. Supermicro reported robust quarterly earnings and raised its gross margin guidance, directly countering concerns over AI spending sustainability that had battered chip stocks. The rebound was amplified by Samsung's oversold position after a 4% drop on October 20 amid foreign and institutional selling exceeding ₩1.6 trillion. Samsung had slumped over 17% in the past month on worries about slowing AI investment returns. The stock's rally helped the KOSPI index rebound over 3%, with rival SK Hynix also rising sharply.