Samsung Shares Surge to Record After Report on Higher Chip Price

Samsung Electronics Co. shares jumped to a fresh record high Thursday, after local media reported that the firm is negotiating a price for its latest artificial intelligence memory chip that’s up to 30% higher than the previous generation.

The chipmaker’s stock rose as much as 5.4% on Korea Exchange, as the market reopened following a three-day holiday. Samsung is looking to price its HBM4 at around $700 per unit, according to Chosun Ilbo newspaper. Samsung declined to comment on the media report.