Samsung Sells Down Entire ASML Stake to Expand in New Arenas

(Bloomberg) -- Samsung Electronics Co. sold its entire remaining stake in ASML Holding NV in the December quarter as part of its push to expand into new areas of chipmaking.

Most Read from Bloomberg

• BYD’s New $233,450 EV Supercar to Rival Ferrari, Lamborghini

• Zelenskiy Says 31,000 Troops Killed as Ukraine Seeks US Aid Decision Within Month

• Norwegian Cruise Ship Halted at Mauritius Due to Outbreak

• Jack Ma-Backed Ant Outbids Citadel Securities for Credit Suisse’s China JV

• Buffett Says ‘Eye-Popping’ Results Unlikely With Record Cash

The world’s largest memory maker sold about 1.58 million shares, or 0.4%, of ASML, according to its most recent quarterly financial report filed to regulators. The stake was valued at around 1.26 trillion won ($930 million) as of the end of September, an earlier company filing showed.

Samsung bought a 3% stake in the Dutch chip gear maker for about 700 billion won in 2012. Four years later, the South Korean company sold half of its stake. Samsung has gradually reduced its stake since the second quarter of last year.

A representative for Samsung declined to comment.

Samsung is working to catch up to rival SK Hynix Inc. in high-bandwidth memory, or HBM, chips, which are used to help Nvidia Corp.’s accelerators train artificial intelligence. It’s also seeking to narrow Taiwan Semiconductor Manufacturing Co.’s lead in contract chipmaking.

Read more: South Korea Lays Out $470 Billion Plan to Build Chipmaking Hub

Most Read from Bloomberg Businessweek

• The High Cost of Eating Out in America

• Why Elon Musk Bought Twitter in the First Place

• Can the Masters of Hipster Cringe Conquer Hollywood With Wall Street Cash?

• How Capital One’s $35 Billion Discover Merger Could Affect Consumers

• Plug-In Hybrids Are Booming in the World’s Biggest EV Market

©2024 Bloomberg L.P.