Euphoria for tech stocks after Samsung-Sk Hynix deal with OpenAI, in Milan in the light of St
In Europe, Dutch Asml and German Infineon also did well
(Il Sole 24 Ore Radiocor) - StMicroelectronics closed up 2.2%, well in tune with Piazza Affari, along with European tech stocks, which are celebrating the deal struck by Samsung and SK Hynix to supply chips to artificial intelligence giant OpenAi. Over the past month they have boasted an overall gain of more than 10%. In Europe, Dutch Asml (+4.3%) and German Infineon Technologies (+2%) also stood out today. Technology stocks also did well in Japan.
Meanwhile, the euphoria over Artificial Intelligence and technology is being felt on the valuations of OpenAi itself, which struck a deal to help employees sell shares in the company with a $500 billion valuation, enabling the ChatGPT-owned brand to overtake Elon Musk's SpaceX and become the biggest startup in the world. Current and former employees of OpenAi sold about $6.6 billion worth of shares to investors including Thrive Capital, SoftBank Group, Dragoneer Investment Group, Abu Dhabi's MGX and T. Rowe Price, Bloomberg reconstructed. This boosted the US company's value well above the previous level of $300 billion reached during a SoftBank-led financing round earlier this year.
