EU enlargement: What does the future hold? 
BYD Shark Debuts in Mexico, Rivals Tesla Cybertruck and Ford F-150 Lightning 
Instacart, Uber Eats Forge Groundbreaking Partnership to Revolutionize Food Delivery 
Hong Kong Central Bank Leads Initiative to Explore Asset Tokenization Advancements 
Royal Caribbean to Launch Massive Recruitment to Meet Strong Demand 
From Geneva to Brazil and Dubai, How Mirabaud Bank Is Navigating Global Market Shifts 
USDh Launches as First Bitcoin-Backed Dollar Offering 25% Yield 
Can I take your order – and your data? 
What if the Reserve Bank itself has been feeding inflation? An economist explains 
KFC Customers Demand the Return of Original Veggie Burger 
Shiba Inu Insider Drops Major Shiba Eternity Update; Community Anticipates Enhancements 
Electric air taxis are on the way – quiet eVTOLs may be flying passengers as early as 2025 
Why is the London Stock Exchange losing out to the US 
New EU trade rules could put poor countries in a billion dollar ‘green squeeze’ 
Uganda’s tax system isn’t bringing in enough revenue but is targeting small business the answer? 
PepsiCo Executive Named Gap's New Global CMO 
Samsung Electronics, the global memory chip titan, has sold 3.55 million shares of ASML Holding for an estimated $2.2 billion, reinforcing its semiconductor prowess amid industry recovery.
As a result of this transaction, Samsung's stake in ASML has decreased from 1.6% in the first quarter to 0.7% in the second quarter, according to the company's first-half business report. However, this reduction in stake has enabled Samsung to book gains from the surge in ASML's share prices since its initial investment in 2012.
ASML, the sole producer of chip manufacturing machines known as extreme ultraviolet (EUV) scanners, has seen its shares rise significantly due to expectations of a faster-than-anticipated recovery in the chip industry. With its recent stock hitting a one-year high of $735.93, the company remains a top choice among leading chipmakers, including industry giants such as Taiwan Semiconductor Manufacturing Co. (TSMC), Intel Corp., and SK Hynix Inc.
Samsung's decision to sell shares in ASML is expected to provide the company with additional capital to expand its chipmaking facilities in Korea and abroad. Despite the current market challenges, Samsung has remained committed to investing in chip technology and has allocated 90% of its capital expenditures, totaling 25.2 trillion won, to chip facility expansion and upgrades.
The company's dedication to the chip sector is evident as it invests despite market uncertainties. Samsung's first-half financial report showed a consolidated operating profit of 670 billion won, its lowest performance in 14 years. Moreover, its chip business experienced an operating loss of 4.36 trillion won in the second quarter alone.
With the funds raised from the ASML shares sale, Samsung aims to augment its chipmaking capabilities and position itself as an industry frontrunner when the chip market recovers from its current slump. Industry experts believe the company's strategic investments will enable it to outpace its competitors and solidify its dominance in the ever-evolving semiconductor industry.
As the demand for cutting-edge chips continues to grow, Samsung's forward-looking approach to expanding its chipmaking footprint emphasizes the importance of having state-of-the-art technology and equipment. The successful sale of ASML shares marks a pivotal moment for Samsung's chip division, propelling it toward continued success and innovation.
Photo: BoliviaInteligente/Unsplash
