SK Networks has reached its upper limit on the stock market amid rising expectations for expanded artificial intelligence (AI) collaboration between SK Group and Nvidia.
According to the Korea Exchange, as of 2:09 PM, SK Networks was trading at 14,170 won, up 3,270 won (30.00%) from the previous trading day.
This surge in stock price is attributed to the official announcement of expanded AI collaboration between SK Group and Nvidia. SK Group Chairman Chey Tae-won and Nvidia CEO Jensen Huang met in Seoul's Jongno district to discuss cooperation in the AI sector.
The two companies agreed to enhance collaboration in AI infrastructure, semiconductors, and cloud services. SK Hynix will work with Nvidia on the joint development of next-generation memory for AI factories, while SK Telecom will pursue collaboration on AI cloud services based on Nvidia's platform. They are also considering expanding the AI factory to a gigawatt scale, with plans for its first operation in Korea by 2027.
Market analysts believe this collaboration could lead to a reassessment of the overall AI business value of SK Group, resulting in increased buying interest in its affiliate, SK Networks.
Recently, SK Networks has accelerated its transition to an AI-focused holding company, nurturing AI and robotics as core growth drivers and operating the wellness robotics brand 'Namux.' The company is also strengthening its investments in the AI value chain by increasing its stake in the AI solutions firm Upstage.
Meanwhile, the KOSPI market is experiencing weakness due to a sharp decline in U.S. semiconductor stocks. Major large-cap stocks, including Samsung Electronics and SK Hynix, are trending downward, but SK Networks continues to show strong stock performance driven by optimism surrounding its AI business growth.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.