Native tech shares boosted by U.S. market after Lunar New 12 months break

Screens show the logos of Microsoft and OpenAI. Microsoft prolonged on January 23 its partnership with with OpenAI, the analysis lab and creator of ChatGPT, in a ″multiyear, multibillion greenback funding″ [AFP]

 
Korea’s tech shares, each huge and small, obtained a significant enhance Wednesday following the Lunar New 12 months vacation, taking a constructive cue from the U.S. inventory market that noticed massive beneficial properties from chip corporations over the break.  
 
U.S. chipmakers like Nvidia, AMD and Qualcomm rallied coming into this week after Barclays upgraded its scores on AMD, Qualcomm and Seagate Know-how Holding.
 
Samsung Electronics, the world’s largest reminiscence chipmaker, added 2.59 p.c to shut at 63,400 gained ($52) Wednesday.  
 
SK hynix climbed 4.34 p.c to shut at 91,400 gained, marking the very best value since Nov. 16, final yr.  
 
The latest upturn breathed life into the bearish market sentiment because the chipmakers will probably announce the bottom working revenue in a decade as a consequence of weak demand for semiconductors.
 
Barclays’ analyst Blayne Curtis, nonetheless, anticipated that the chip market might rebound within the second-half of this yr on the situation that the re-opening of China continues.  
 
“We’re extra constructive about corporations with knowledge facilities, PCs and handset exposures,” the analyst wrote in a be aware.
 
Additionally on the gaining aspect had been smaller robotics and chatbot corporations, following main funding bulletins by huge tech corporations like Samsung Electronics and Microsoft.  
 
Rainbow Robotics surged 29.96 p.c to 87,200 gained, an all-time excessive, boosted by Samsung Electronics’ choice earlier this month to take a position almost 60 billion gained into the Kosdaq-listed robotic maker.  
 
The Daejeon-based firm introduced on Jan. 3 that Samsung Electronics will purchase 1.9 million shares or a ten p.c stake in Rainbow Robotics for 58.98 billion gained.  
 
The announcement garnered consideration as fairness investments by Samsung Electronics have been few and much between since its acquisition of Harman in 2016, although the dimensions of the newest acquisition will not be thought of substantial.  
 
Finest recognized for its humanoid robotic, Hubo, the corporate was based by a bunch of researchers at KAIST together with Oh Jun-ho, a mechanical engineering professor on the science and technology-focused college.
 
ChatGPT additionally provided a lift after Microsoft introduced Monday that it’s going to make a “multiyear, multibillion-dollar” funding into OpenAI, the San Francisco, California-based firm behind the wildly well-liked AI chatbot instrument. A number of media retailers estimated the dimensions to be $10 billion.  
 
Selvas AI, a developer of voice and picture recognition software program instruments, gained 18.07 p.c to achieve 14,050 gained whereas Konan Know-how, a giant knowledge analytics supplier, superior 29.88 p.c.  
 
Nonetheless, the correlation between the recognition of ChatGPT and the companies of the Korean corporations stays unclear.  
 
Brief for Chat Generative Pre-trained Transformer, it’s a free chatbot system able to producing conversational dialogue and human-like textual content corresponding to articles and summaries.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]