LG Electronics(066570) is up more than 4% in early trading on the 14th. Buying appears to be pouring in after word spread in the market that LG Group Chairman Koo Kwang-mo will meet Nvidia CEO Jensen Huang.
As of 9:33 a.m. that day, LG Electronics was trading at 215,000 won, up 8,500 won (4.12%) from the previous session.
Koo is said to be planning to visit Nvidia headquarters in Silicon Valley, United States, to meet Huang in person. They are meeting again two months after a closed-door talk that lasted about an hour at the LG Twin Towers in Yeouido, Seoul, in early June.
At that time, as expectations grew for LG Group and Nvidia to cooperate on artificial intelligence (AI), LG Electronics shares rose sharply, but when no concrete cooperation measures emerged, profit-taking and sell-offs on disappointment followed.
Choi Jeong-uk, a Hana Securities analyst, said, "LG Chairman Koo Kwang-mo is reportedly set to meet CEO Jensen Huang again in Silicon Valley to sign a strategic partnership," and noted, "Whether this time will bring an announcement of practical cooperation plans and specifics on business results is of paramount interest."