AI boom pushes Samsung to $1T

Samsung reached a $1 trillion valuation on Wednesday as shares of the South Korean tech giant surged more than 10%, driven by the ongoing artificial intelligence frenzy fueling demand for chips. The milestone makes Samsung only the second Asian company to cross the trillion-dollar threshold, after TSMC.

The news comes on the heels of a blockbuster earnings report last week, in which Samsung posted profits eight times higher than the same period a year ago.