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Samsung soars more than 5% after report of Nvidia considering its next-gen chips

·1 min

Samsung’s stock jumped over 5% after reports that Nvidia is interested in the company. Nvidia’s CEO hinted that they are considering using Samsung’s high-bandwidth memory chips in their graphics processing units. This comes after SK Hynix announced that Nvidia would be their first client for their own high-bandwidth memory chips. Shares of SK Hynix dropped as a result. Samsung also revealed during their annual general shareholders’ meeting that they expect significant revenue from their advanced chip-packaging products in 2024.