Hanmi Semiconductor invests $32.9M in SpaceX, stock surges 25% on AI chip bet

Korea's Hanmi Semiconductor to acquire shares of SpaceX - The Korea Times

Korea's Hanmi Semiconductor said in a regulatory filing Friday that it is seeking to acquire 50 billion won ($32.9 million) worth of shares in SpaceX, ahead of the U.S. space company's stock market debut. The investment, equivalent to around 7.24 percent of equity, comes amid the company's prospects on the "growth potential of Elon Musk's Terrafab and SpaceX, amid an explosive demand on advanced chips, aerospace and satellite technologies and artificial intelligence (AI)," according to the filing. Terrafab is a vertically integrated semiconductor manufacturing complex spearheaded by Musk, involving Tesla, SpaceX and xAI, an AI company founded by the U.S. billionaire. The facility is expected to start operations in 2028. Some 80 percent of chips produced from there will be used in data centers of SpaceX, while the rest will be topped on vehicles of Tesla as well as its Optimus robots. "We will reinvest the expected future returns into our core semiconductor equipment business to seek sustainable growth, while enhancing shareholder value," an official from the Korean company said. SpaceX is scheduled to go public on the tech-heavy Nasdaq exchange on Friday (U.S. time). Its initial public offering price (IPO) is set at $135 per share, bringing its total market capitalization to around $1.8 trillion.

Why is Hanmi Semicon stock surging today? By Investing.com

Investing.com -- Hanmi Semicon stock surged 25.3% to reach ₩364,500 during today's session after the company disclosed a regulatory filing announcing its intention to acquire approximately 50 billion won ($32.9 million) worth of shares in SpaceX. The filing cited the company's conviction in the growth potential of Elon Musk's Terrafab initiative -- a vertically integrated semiconductor manufacturing complex involving Tesla, SpaceX, and xAI -- alongside explosive demand for advanced chips, aerospace, and artificial intelligence technologies as the rationale for the investment. Adding a layer of analyst activity to the session, JPMorgan raised its price target on Hanmi Semiconductor to KRW 200,000 from KRW 150,000, acknowledging it had underestimated the scale and duration of the memory capital expenditure upcycle, though it maintained an Underweight rating, citing the stock's significant valuation premium relative to backend peers. Hanmi's underlying strategic positioning also remains a key draw for investors: the company holds the top global market share in thermocompression bonders for high-bandwidth memory production, placing it at the center of the AI chip supply chain. On the broader market front, the KOSDAQ surged 4.8% on the prior session, buoyed by strong South Korean semiconductor export data and institutional net buying, creating a constructive backdrop for Korean chip-related names heading into today's trade. U.S. equity markets also provided a positive global tone, with the NASDAQ gaining +2.5% and the S&P 500 rising +1.8%, reflecting renewed risk appetite in technology. Taken together, the SpaceX investment announcement served as the dominant catalyst, reframing Hanmi's investment narrative beyond pure semiconductor equipment into the high-growth intersection of AI infrastructure, space technology, and advanced chip manufacturing -- a combination that ignited exceptional buying interest and pushed the stock to its highest level in nearly a month, with a session high of ₩372,500. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.