Shares of
rallied on Wednesday by as much as 14.9 per cent to hit a
record high in morning trade, outperforming the benchmark
KOSPI’s 1.2 per cent gain amid market speculation about a
potential deeper tie-up with Nvidia.
Shin Yoon-chul, an analyst at Kiwoom Securities, said
Hyundai’s announcement about the planned deployment in its
factories of Atlas humanoid robots, made at the Consumer
Electronics Show in Las Vegas, was insufficient to fully explain
the rally.
He noted that robot production is planned at around
30,000 units by 2028 and that the Atlas product was showcased
only as a static mock-up display.
However, he said investor expectations appeared to be rising
that Hyundai Motor Group’s partnership with Nvidia
could extend beyond a simple chip supply relationship, following
a meeting between Hyundai Motor Group Chair Euisun Chung and
Nvidia CEO Jensen Huang at CES.
Shin said the market seemed to be pricing in the possibility
that Nvidia could deepen ties with the Hyundai Motor Group,
including by making investments in Hyundai affiliates, which
could leave further upside room in the shares of Hyundai Motor
and its affiliates.