Samsung Electronics' market cap surpasses $1 trln

The market ​capitalisation of Samsung Electronics' (005930.KS), opens new tab ‌common stock surpassed $1 trillion on Wednesday, making it the second ​Asian company after TSMC (2330.TW), opens new tab ​to reach the milestone.

Samsung Electronics, ⁠the world's top memory ​chipmaker, saw its market ​value reach 1,500 trillion won ($1.03 trillion) in early trading in Seoul, tracking ​sharp gains of AI-related stocks ​in the U.S. overnight on Wednesday (May 6), reports reuters.

Shares of the ‌South ⁠Korean chip giant were up 12% at 09:52 a.m. (0052 GMT) in Seoul, outstripping the benchmark Kospi's 5.4% gain.

The S&P 500 and ​the ​Nasdaq ⁠notched record-high closes on Tuesday, lifted by ​Intel (INTC.O), opens new tab and other AI-related ​stocks, ⁠as a U.S.-Iran ceasefire held and investors focused ⁠on ​strong quarterly earnings.