Samsung reached a $1 trillion valuation on Wednesday as shares of the South Korean tech giant surged more than 10%, driven by the ongoing artificial intelligence frenzy fueling demand for chips. The milestone makes Samsung only the second Asian company to cross the trillion-dollar threshold, after TSMC.
The news comes on the heels of a blockbuster earnings report last week, in which Samsung posted profits eight times higher than the same period a year ago.
Originally reported by TechCrunch
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