Jensen Huang eats a meal of fried chicken, and Korean "chicken stocks" soar!

Nvidia CEO Jensen Huang’s fried chicken dinner with South Korean business leaders in Seoul unexpectedly sparked a “meme frenzy” in the Korean stock market, sending some related stocks soaring as much as 30%. The much-watched dinner took place on Thursday night, with Huang appearing at Kkanbu Chicken in Seoul alongside Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Executive Chairman Euisun Chung. Photos and videos from the event quickly went viral on social media. Although Kkanbu Chicken is not a listed company, its competitor Kyochon F&B Co. saw shares surge up to 20% on Friday; South Korean poultry processor Cherrybro Co. even hit the daily limit of a 30% rise, with trading volume roughly 200 times the average. Even the price of Neuromeka Co., a company that makes fried chicken robots, soared. This event not only reflects the unique impact of viral trends on Korea’s stock market, but also reveals the business logic behind this casual dinner. Under the relaxed atmosphere, Huang was clearly aiming to deepen Nvidia’s strategic footprint in this critical market. According to a Wallstreetcn article, Nvidia has reached an agreement with Samsung Electronics, Hyundai Group, and SK Hynix to supply more than 260,000 AI chips to launch a Korean AI project. Nvidia did not disclose the financial terms of the deal. **Informal Dinner of Tech Giants** The dinner that shook the market was filled with light-hearted social moments. On Thursday evening, Huang, in his signature black leather jacket, appeared at Kkanbu Chicken in Seoul’s Gangnam district, attracting a crowd. They ordered three servings of fried chicken, cheese sticks, and three draft beers; Huang paired soju from the next table with his beer. During the meal, Huang gifted Lee and Chung boxes labelled with Nvidia DGX (the company’s series of AI systems). Lee showed off a signed note from Huang to the cameras, which read: > “To our cooperation, to the future of the world!” Huang jokingly declared “the house pays for all,” and at the end of the dinner, Lee and Chung paid a bill totaling around 2.5 million won (about $1,750), which covered everyone present in the restaurant. Huang then interacted with the crowds outside the restaurant, signing various items. But this gathering was more than just an eye-catching PR event. Huang’s visit to Korea coincided with the APEC CEO Summit. It is reported that Huang plans to announce new contracts to supply AI chips to Samsung Electronics and Hyundai Motor during this trip. For Nvidia, deepening ties with Korea’s tech and auto giants will help expand its presence in this key market. Huang told the media: > “I have many partners here, and a lot of announcements to make.” For Korean companies, closer ties with Nvidia mean more stable GPU supply. According to the latest agreement, Nvidia will provide Samsung, Hyundai Motor Group, and SK Group with more than 260,000 AI chips to kickstart Korea’s AI projects. The Korean government will build what’s called “sovereign AI”—government-controlled computing infrastructure. More than 50,000 of Nvidia’s latest AI accelerators will be deployed in data centers, including those run by the national AI computing center, Kakao, Naver, and NHN Cloud. Earlier this week, Nvidia became the first company to surpass a $5 trillion market cap. **Korea’s “Meme” Stock Culture** Jensen Huang’s personal influence has again been proven on the capital markets. Photos from the fried chicken dinner caught fire online, soon translating into surging prices for related stocks. Since Kkanbu Chicken isn’t listed, traders looking for quick gains shifted focus to other related companies. The fried chicken chain Kyochon F&B Co. jumped up to 20%, while upstream poultry processor Cherrybro Co. surged straight to the 30% limit up. Additionally, Kosdaq-listed Neuromeka Co., which manufactures fried chicken robots, saw its stock price soar as well. However, these stocks gave back some gains after their brief spikes. The “fried chicken stock” moves are the latest example of Korea’s “meme culture” in the market. Analysis suggests this event reflects the power of internet buzz and celebrity effect on the Korean market, especially on small-cap stocks. In Korea, risk-seeking traders often chase short-term gains tied to cultural, political, or economic trending events—speculation that usually has little connection to company fundamentals or operations. For instance, in August this year, after former US President Trump praised the fountain pen used by South Korean President Lee Jae-myung, shares of Korean stationery maker MonAmi briefly soared before returning to previous levels. This is not Huang’s first role as a “stock kingmaker.” In 2024, after he mentioned several AI-related companies during a speech, their stock prices also surged, highlighting his market influence beyond the company itself. Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice, nor does it take into account individual users’ specific investment objectives, financial situation, or needs. Users should consider whether any opinions, views, or conclusions in this article suit their particular circumstances. Any investment is at your own risk.