On June 2, Samsung Electronics' market capitalization surged past that of major U.S. tech companies Meta and Tesla, elevating it to the 9th largest company in the world. According to the global market capitalization comparison site CompaniesMarketCap, Samsung's market value reached $1.581 trillion (approximately 239 trillion won) as of 9:53 AM, reflecting a 4.29% increase from the previous day. This rise allowed Samsung to surpass Meta, which was valued at $1.524 trillion, and Tesla, valued at $1.561 trillion, during trading on June 1 (local time).
However, Samsung's stock initially jumped nearly 6% to 370,000 won before the gains moderated, indicating that the market capitalization rankings could shift again depending on the closing prices. Despite this, Samsung's stock price increase has positioned it within striking distance of the 8th largest company, Saudi Arabia's state-owned Aramco, which has a market cap of $1.763 trillion. The top seven companies by market capitalization are currently Nvidia, Alphabet (Google), Apple, Microsoft, Amazon, TSMC, and Broadcom.
Samsung's recent stock performance has been bolstered by a surge in demand for memory semiconductors driven by the artificial intelligence (AI) boom. The momentum was further fueled by news this week that Nvidia CEO Jensen Huang announced the next-generation AI chip, Vera Rubin, will feature HBM4 memory from Samsung and SK Hynix.
In contrast, Meta has invested heavily in AI development but has yet to achieve significant results, leading to a 5.04% drop in its stock price on June 1 (local time). Tesla also faced challenges, with CEO Sam Altman of OpenAI announcing an accelerated push for talent in robotics, raising concerns about competition in that sector and resulting in a 4.57% decline in its stock price.
* This article has been translated by AI.
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