The stock prices of Samsung Electronics and SK Hynix experienced substantial surges. Samsung Electronics' shares climbed by up to 4.5%, while SK Hynix's shares soared by 9.7%. These jumps represented their largest intraday gains and reached historic highs since April. Earlier, the two firms had inked a letter of intent to provide memory chips for OpenAI's data centers. This partnership aims to jointly satisfy the requirements of the Stargate project and work together on the construction of two data centers.

The CEO of OpenAI had previously held meetings with the President of South Korea as well as the chairmen of the two companies. According to the South Korean side, OpenAI has plans to place orders for 900,000 semiconductor wafers by 2029. Moreover, it intends to form a joint venture with the two South Korean companies to build data centers, with an initial capacity of 20 megawatts. The South Korean side also expressed its eagerness to participate in the financing of this venture.

This collaborative effort is set to assist Korean companies in securing a competitive advantage in the artificial intelligence arena. Additionally, it will bring about development opportunities for the South Korean chip industry.