Hyundai Motor shares hit record on Nvidia partnership hopes
Shares of Hyundai Motor surged nearly 15% on Wednesday to a record high, sharply outperforming South Korea’s benchmark KOSPI index, as investors speculated about a potential deepening of ties between the automaker and US chip giant Nvidia.
Hyundai Motor’s stock jumped as much as 14.9% in morning trade, while the broader KOSPI gained about 1.2%. Market watchers said the rally appeared to be driven less by company announcements and more by growing expectations of closer strategic cooperation with Nvidia, News.Az reports, citing Reuters.
At the Consumer Electronics Show (CES) in Las Vegas, Hyundai announced plans to deploy Atlas humanoid robots at its factories. However, analysts said this alone did not fully justify the sharp rise in the company’s share price. According to Kiwoom Securities analyst Shin Yoon-chul, robot production is expected to reach around 30,000 units by 2028, and the Atlas robot was presented only as a static mock-up at the event.
Instead, investor attention has focused on signals of a broader partnership with Nvidia. Speculation intensified after Hyundai Motor Group Chairman Euisun Chung held talks with Nvidia Chief Executive Jensen Huang on the sidelines of CES. The two companies already cooperate in areas such as advanced chips and artificial intelligence, but markets appear to be betting on a more expansive relationship.
Shin said investors may be pricing in the possibility that Nvidia’s involvement could go beyond a straightforward chip supply arrangement. Expectations include potential strategic investments by Nvidia in Hyundai Motor Group affiliates, a scenario that could support further gains in Hyundai Motor shares and related companies.
Neither Hyundai Motor nor Nvidia has announced any new agreements following the CES meeting. Still, the surge in Hyundai’s stock underscores strong market optimism around the role of artificial intelligence, robotics and advanced computing in the future of the global automotive industry.
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