As Nvidia briefly hit a $4 trillion market cap, AI chip rival Groq is reportedly seeking to raise up to $500 million at a $6 billion valuation to fulfill a $1.5 billion Saudi Arabia deal and scale global operations.

The South Korean giant lost its global smartphone crown to Apple in 2023, and faces growing competition from Huawei and Honor.

Samsung Electronics on Wednesday unveiled thinner, lighter new foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment that remains untapped by arch rival Apple.

Nvidia and other companies benefiting from the AI boom have been a major reason the S&P 500 has climbed to record after record recently.

According to the smart estimates, Samsung was expected to post an operating profit of 6.26 trillion won ($4.57 billion) for the quarter.

Samsung's challenges bringing HBM3e to market have been a boon for rival SK Hynix, which has become Nvidia's primary supplier of the memory. Micron has also managed to seize the moment with its 12-high HBM3e stacks slated for use in Nvidia's upcoming Blackwell Ultra B300 and GB300 accelerators.

Samsung Electronics Vice Chairman talks HBM3E supply with NVIDIA, as its HBM 'counterattack' begins soon, ready to supply 12-Hi HBM3E for Blackwell Ultra.