KEY POINTS
  • Samsung's daily gain Wednesday was the largest percentage jump the stock has seen since September, according to Reuters data.
  • Nvidia reportedly said the South Korean chipmaker's high bandwidth memory chips were in the "qualifying" stage for use in Nvidia's graphics processing units.
The Biden administration plans to announce it is awarding more than $6 billion to South Korea's Samsung next week to expand its chip output in Taylor, Texas, as it seeks to ramp up chipmaking in the U.S., two people familiar with the matter said.

Shares of South Korean heavyweight Samsung Electronics soared more than 5% Wednesday after reports of interest from chip giant Nvidia.

Earlier on Wednesday, media reports emerged that Nvidia co-founder and CEO Jensen Huang hinted during a media briefing that his firm is in the process of qualifying Samsung Electronics' new-generation high-bandwidth memory chips for its graphics processing units.

"HBM memory is very complicated and the value added is very high. We are spending a lot of money on HBM," Huang said, in comments carried by the Korea Economic Daily. He reportedly added that Nvidia is in the process of testing Samsung Electronics' HBM chips.

"Samsung is very good, a very good company," Huang signaled.