Seoul announces $1 trillion corporate-led spending on semiconductors and AI data centers, lifting Vertiv stock 7% on exposure.
South Korea’s government and corporate sector will invest over $1 trillion in semiconductor fabrication and AI data centers. Samsung and SK Hynix will allocate $518 billion to chip plants, while SK Group, GS Group, and Naver will spend $356 billion on AI infrastructure.
Vertiv, a provider of power systems for data centers, stands to benefit from the AI spending surge. The company generates 20% of its revenue in Asia and is linked to Naver through Nvidia’s ecosystem. Vertiv’s stock rose 7% midday following the announcement.
The plan underscores continued robust capital expenditure in AI and chip sectors, defying expectations of a slowdown. Vertiv’s integration with Nvidia’s architecture positions it as a key player in the buildout.