ETF Movement: South Korea's 2x Long Samsung ETF Surges Over 5% as Samsung Plans Late-July Meeting with NVIDIA to Discuss Major Investment Collaboration

Stock News09:49

A South Korean exchange-traded fund offering double the daily return of Samsung Electronics Co Ltd (HKEX: 07747) has surged more than 5%. At the time of writing, the fund is up 5.67%, trading at HK$119.2 with a turnover of HK$118 million.

According to market reports from July 10th, Samsung Group Chairman Lee Jae-yong is scheduled to meet with NVIDIA (NVDA) CEO Jensen Huang in the United States at the end of July. The meeting is expected to involve discussions on a new, large-scale investment cooperation plan, which includes the semiconductor wafer production plant in Gwangju.

It is worth noting that Samsung Electronics recently announced it has commenced mass production of its most advanced data center storage device. This product is intended for use in NVIDIA's upcoming Vera Rubin platform.

The enterprise-grade solid-state drive (E-SSD) product, named PM1763, was unveiled earlier this year at the NVIDIA GTC conference. At that time, Samsung presented it alongside next-generation High Bandwidth Memory HBM4 and the low-power module SOCAMM2 as part of a comprehensive solution specifically designed for AI data centers.

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