On June 2, Samsung Electronics' market capitalization rose to become the ninth largest company in the world, surpassing major tech firms Meta and Tesla during trading hours.
According to CompanyMarketCap, Samsung's market cap reached $1.518 trillion (approximately 2,300 trillion won) as of 9:53 AM, reflecting a 4.29% increase. This allowed it to overtake Meta, which had a market cap of $1.524 trillion, and Tesla, valued at $1.561 trillion, following a significant drop in their stock prices on June 1.
However, Samsung's stock initially surged by about 6%, reaching 370,000 won, before the increase moderated. The gap in market capitalization between Samsung, Meta, and Tesla remains narrow, suggesting that the rankings could change again by the end of the trading day.
Despite this, Samsung's stock price increase places it among the top ten companies globally, with the state-owned Saudi company Aramco, valued at $1.763 trillion, now within reach. The top seven companies by market capitalization are Nvidia, Alphabet (Google), Apple, Microsoft, Amazon, TSMC, and Broadcom.
Samsung's recent stock surge has been fueled by a spike in demand for memory semiconductors driven by the artificial intelligence (AI) boom. This week, news that Nvidia's next-generation AI chip, the Vera Rubin, will feature HBM4 from Samsung and SK Hynix has further propelled its stock.
In contrast, Meta has invested heavily in AI development but has yet to achieve significant results, leading to a 5.04% drop in its stock price on June 1. Tesla also faced a decline of 4.57% amid growing concerns over competition in the robotics sector, following comments from Sam Altman, CEO of OpenAI, about accelerating talent acquisition in that field.
* This article has been translated by AI.
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