LG shares rally on hopes for AI, robot cooperation with Nvidia, media says

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SEOUL, June 1 : Shares in South Korea's LG Electronics and some affiliates rose sharply in Monday morning trade, on investor hopes for expanded cooperation in physical AI and robotics with Nvidia, according to media reports.

Shares in LG Electronics rose 28 per cent, while LG CNS and holding company LG Corp rose 25 per cent and 21 per cent, respectively, in morning trade.

"The stock prices of LG Group companies have recently risen as new businesses such as AI and robotics have been put under the spotlight," Kiwoo Securities' analyst Ahn Young-joon said in a note on Monday.

South Korean media reported last week that Nvidia CEO Jensen Huang is expected to visit South Korea later this week and meet, among others, LG Group chairman Koo Kwang-mo.

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