Rumors of deep binding to Nvidia (NVDA.US) set off stock prices! Hyundai surged nearly 15% in a single day to a record high

The Zhitong Finance App learned that due to market speculation that Hyundai Motor may further deepen cooperation with Nvidia (NVDA.US), Hyundai Motor's stock price once soared 14.9% to a record high on Wednesday. The performance far surpassed the Korea Composite Stock Price Index, and eventually closed up 13.8%.

Kiwoom Securities analyst Shin Yoon-chul pointed out that Hyundai Motor previously announced at the Las Vegas Consumer Electronics Show (CES) that it plans to deploy Atlas humanoid robots at its factories, but this news alone is not enough to fully explain this sharp rise in stock prices. He mentioned that Hyundai's goal is to achieve a production capacity of about 30,000 robots by 2028, and the Atlas products on display this time are only static prototypes.

However, Shin Yoon-chul said that after Hyundai Motor Group Chairman Euisun Chung and Nvidia CEO Hwang In-hoon met during the Consumer Electronics Show, investors began to expect the cooperation between the two parties to go beyond a simple chip supply relationship.

He analyzed that the market is currently digesting the expectation that “Nvidia may deepen cooperation with Hyundai Motor Group”. The form of cooperation may include investing in Hyundai's subsidiaries, which may bring room for further increases in the stock prices of Hyundai Motor Company and its subsidiaries.