European Chip Stocks Rally After Report Samsung Ups Prices
Dow Jones
Yesterday
0923 GMT - European chip stocks jump following a report saying that Samsung Electronics is increasing prices for its memory chips. Samsung is quoting prices around $4 per gigabit in negotiations with customers of its HBM4 memory chips--three times ahead of its current rates, according to a report in South Korean financial daily MK. Shares in European suppliers of Samsung jumped as AI-related stocks on the continent rise more broadly. ASML, Europe's most valuable company, increases 2.2%, while ASM International gains 4.7%. Analog chip makers Infineon and STMicroelectronics gain 6% and 3.3%, respectively. Stocks linked to the AI buildout also trade higher, with Siemens Energy up 2.6% while Prysmian adds 4%.
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