Samsung today reached a valuation of $1 trillion for the first time, reports Bloomberg. Samsung's value has been climbing sharply due to increasing demand for the memory chips it manufactures, and stock increased 14.4 percent today.

Samsung is the second Asian firm after Apple supplier TSMC to reach a $1 trillion valuation. Last week, Samsung's semiconductor manufacturing business wildly exceeded analyst expectations, reporting operating income of $36 billion instead of the $24.4 billion expected.

Just yesterday, rumors suggested Apple was speaking with Intel and Samsung about taking on some processor manufacturing for Apple devices. Apple is looking to diversify its supply chain due to chip shortages. During Apple's earnings call, CEO Tim Cook said iPhone 17 shipments were constrained because Apple could not get enough of the A19 and A19 Pro chips that TSMC makes.

Samsung said it plans to "secure flagship SoC design wins" in the second half of 2026. Development of Samsung's 1.4nm node is on track, and it is "pursuing the expansion of large-scale 2nm customers." Apple is preparing to make the jump to 2nm chips soon, and the iPhone 18 models could be the first to have chips built on the new node.

Samsung also said that it expects server memory demand to remain strong in the latter part of 2026, so the company is in a good position to see further growth in the coming months.

At a $1 trillion valuation, Samsung trails Apple's more than $4 trillion valuation and TSMC's $2 trillion market cap. Samsung's mobile unit has not been faring as well as its chip business because of increasing material and component costs.