Nvidia’s record gains lead Korean AI chip stocks upwards

[Dado Ruvic’s illust. / Reuters]

As the U.S. chip stock Nvidia Corp. closed at a record high on Monday, South Korean AI chip stocks also saw upswings early Tuesday morning.

Shares in SK hynix Inc. rose 1.4 percent as of 9:40 a.m. on Tuesday with a 5.78 percent jump in ISU Petasys Co. shares. Kosdaq-listed tech stocks also had strong reactions to the move, with ISC Co. jumping 7.94 percent.

The gains in the domestic stock market came as Nvidia share hit a record high after an announcement on Monday that the U.S. chipmaker will mass produce a range of AI chips for China in the second quarter of 2024. Nvidia shares rose by 6.43 percent after the news.