Samsung Electronics become the first South Korean company to surpass a market capitalization of $1 trillion.
According to CompaniesMarketCap, a leading global market capitalization analysis platform, Samsung Electronics’ market value, including preferred shares, reached $1.025 trillion at the close of trading on February 26.
This unprecedented achievement makes Samsung the first South Korean corporation to join the trillion-dollar club, a milestone achieved by only 13 companies worldwide so far.
With this surge, Samsung Electronics has overtaken Walmart and pharmaceutical powerhouse Eli Lilly, securing the 12th position among the world’s most valuable companies. In Asia, it now stands as the third-largest company by market cap, trailing only behind Taiwan Semiconductor Manufacturing Company (TSMC) at 6th place and Saudi Aramco at 7th.
Samsung’s meteoric rise saw it climb two spots in the global rankings in a single day, propelled by a dramatic stock price increase. The company’s shares closed at approximately $163.50, representing a substantial gain of approximately $10.88 USD or 7.13% from the previous trading session.
This surge can be attributed to growing optimism surrounding the artificial intelligence (AI) boom and Nvidia’s recent earnings surprise. On February 25, Nvidia announced that its revenue for the fourth quarter of the fiscal year (November 2023 to January 2024) exceeded $68.13 billion, surpassing the $66.2 billion forecast by market research firm LSEG.
Meanwhile, SK Hynix’s market capitalization reached $532.2 billion, securing the 21st position globally.
