Hyundai AutoEver, the software and mobility unit of Hyundai Motor Group, saw its shares jump more than 17% on Tuesday after South Korea confirmed receipt of thousands of Nvidia’s latest graphics processors.
The stock climbed to ₩230,500 ($157), up ₩33,700 from the previous session on the Korea Exchange. The rally came after the Ministry of Science and ICT announced that more than 13,000 cutting-edge GPUs, including Nvidia’s Blackwell chips, had arrived in the country — the first batch of 260,000 processors that CEO Jensen Huang pledged to supply during the APEC summit in October.
Investors are betting AutoEver secured a portion of these chips, though the company’s precise role remains unclear. The Hyundai affiliate handles IT infrastructure and technology services for the conglomerate, positioning it as a potential intermediary in the group’s broader AI ambitions.
IBK Securities analyst Lee Hyun-uk said the Nvidia-related business has yet to reach a concrete planning stage but noted potential for the company to move beyond acting as a procurement agent. Leasing arrangements and GPU-as-a-Service offerings could expand the affiliate’s role in Hyundai’s AI infrastructure, according to Lee.
The GPU arrival follows Hyundai Motor Group’s announcement of a $3 billion investment alongside Nvidia to build an AI factory with 50,000 Blackwell processors for autonomous driving and smart manufacturing development. Whether AutoEver can translate the excitement into sustained revenue growth remains to be seen.
