Hyundai Motor shares surged by 14.9% on Wednesday, setting a new record high during morning trading, significantly outpacing the KOSPI index. The main impetus came from market anticipation of closer collaboration between the automaker and Nvidia, rather than any official announcements from Hyundai itself.
Kiwoom Securities analyst Shin Yoon-chul noted that the presentation of plans to integrate Atlas humanoid robots at Hyundai plants, made at CES in Las Vegas, does not alone account for such a sharp rise in stock prices. According to him, the company aims to release approximately 30,000 robots by 2028, yet Atlas was only displayed as a static model, without a live demonstration.
The primary catalyst was investor expectation surrounding a potential expansion of the Hyundai Motor Group’s partnership with Nvidia. Market attention was drawn to the meeting between Hyundai Chairman Euisun Chung and Nvidia head Jensen Huang at CES. Analysts suggest the cooperation could extend beyond chip supply to potentially include Nvidia investments in Hyundai subsidiaries, opening up further appreciation potential for the automaker’s stock and its divisions.
About the Author
