After U.S. Nvidia (NVDA) announced a $5 billion (about 6.93 trillion won) investment in Intel (INTC), Intel-related Korean stocks were strong early in the session on the 19th as Intel shares surged.
INTEKPLUS shares traded at 19,960 won on the Kosdaq market at 9:19 a.m. that day. The share price rose 10.7% (1,930 won) from the previous day. At the same time, PSK and Jusung Engineering were also gaining. According to DS Investment & Securities, they are all corporations in Intel's value chain (Value Chain).
Overnight on the U.S. Nasdaq market, Intel shares finished the transaction up 22.77% ($5.67) at $30.57. It topped the $30 level for the first time in about a year since Aug. last year.
The move came after U.S. Nvidia said it would buy equity in Intel and co-develop next-generation chips. Nvidia CEO Jensen Huang said Nvidia's AI and accelerated computing technology will be integrated with Intel's central processing unit (CPU) and x86 ecosystem to expand the ecosystem and lay the foundation for the next era of computing.