Korean robotics shares surge after Nvidia boss Jensen Huang's praise for country's tech prowess
Seoul [South Korea], June 2 (ANI): South Korean robotics stocks surged on Tuesday after Nvidia CEO Jensen Huang expressed optimism about the country's tech prowess in the robotics industry, reported The Maeil's English news service Pulse.
Huang sees physical AI and humanoid robots as the next big frontier and is massively investing in building them, and sees Korea as a partner.
Shares of Doosan Robotics Inc. also rose 8.16 per cent, Robostar Co. gained 18.25 per cent, and Yuil Robotics Co. climbed 5.39 per cent.
"I believe robotics is very important for Korea," a Pulse report quoted Huang as saying during the company's flagship conference, Nvidia GTC, in Taiwan. "I hope Nvidia can contribute to the development of robotics in Korea as well," he added.
Huang noted that Korea has immense potential in robotics technology but is "facing a shortage of hands and feet -- its labor force," emphasising that "AI and robotics will maximise Korea's potential", according to the Pulse report.
Meanwhile, shares of SK Telecom saw a sharp surge after Nvidia revealed that the Korean company is a key partner in the development of physical AI.
Jensen Huang showcased SK telecom's digital-twin technology which runs on Nvidia's Omniverse platform, Pulse reported.
Some of the shares also saw profit-booking as investors locked in gains after an extended period of surge.
Samsung and SK Hynix saw sharp volatility as investors took to profit-booking, taking advantage of the recent run-up in tech stocks.
The Nvidia boss is expanding the robotics universe as the chip giant explores the huge potential in physical AI. Huang had said that the company will find partners in US, Europe and Korea for its robotics network and develop it beyond its Chinese partner Unitree. (ANI)
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