Hyundai Motor's stock price rose by more than 6% in just one day. This was due to news that it had signed a partnership with the global semiconductor corporation Nvidia for mobility innovation.
According to the Korea Exchange on the 10th, Hyundai Motor recorded 226,000 won, an increase of 13,000 won (6.10%) from the previous day. This is the largest daily increase in eight months since May 22 of last year (9.49%). Its market capitalization rose by 2.72 trillion won.
On that day, the transaction volume and transaction amount for Hyundai Motor's stock reached 1,944,818 shares and 436 billion won, respectively, more than doubling compared to the previous day, drawing investor interest. Foreign investors purchased 85.7 billion won worth of Hyundai Motor shares, while institutional investors bought 610 million won. In contrast, individual investors sold 1.01 trillion won in net sales, profiting from the investments.
Lee Jae-won, a Research Institute analyst at Shinhan Investment Corp., noted, "Following the previous day's announcement of this year's domestic investment plan worth a record 24.3 trillion won, the news of the partnership with Nvidia led to a significant inflow of foreign funds, resulting in strong stock prices."
Hyundai Motor Group announced on the 9th (local time) that it signed a strategic partnership for mobility innovation with the AI semiconductor corporation Nvidia in Nevada, USA. Hyundai plans to enhance its core mobility solutions, including software-defined vehicles (SDV) and robotics, by strengthening the application of AI technology across its overall business operations.