Samsung Electronics Co. shares surged in Seoul trading on Wednesday, driving the South Korean giant’s market value past the $1 trillion mark for the first time. This jump came amid a powerful rally in U.S. AI-related tech stocks and positive sentiment across global markets.

Samsung shares were up 12% by mid-morning trading, significantly outstripping the 5.4% gain in the benchmark Kospi index. At their peak, the company’s market capitalization reached 1,500 trillion won, equivalent to approximately $1.03 trillion.

With this growth, Samsung became the second Asian company in history, after Taiwan’s TSMC, to achieve a $1 trillion valuation. Investor optimism was fueled by record closes for the S&P 500 and Nasdaq the previous day, as well as strong quarterly earnings in the U.S. tech sector.

Samsung Electronics overcame a major psychological milestone on its path to dominating the AI memory sector. The surge occurred amid a stabilizing geopolitical environment following a U.S.-Iran ceasefire, allowing investors to shift their focus from risks back to the fundamental performance of the world’s largest memory chipmaker.