SK Hynix shares rally 13% after US tech firms signal strong AI spending plans
SK Hynix shares surged 13% to a record high after US tech firms increased investment plans for AI data centers. The company's shares outperformed Samsung Electronics, which was weighed down by potential strike risks.
SK Hynix shares rose 12.52% to a record high of 1,447,000 won ($985.29) per share, driven by foreign buying. The surge was triggered by US tech firms increasing investment plans for AI data centers. Four US tech giants, including Alphabet, signaled that AI spending would not slow down, with combined outlays set to surpass $700 billion this year. Microsoft and Meta unveiled higher-than-expected capital expenditure plans, partly due to surging memory chip prices. The Bank of Korea's senior deputy governor Ryoo Sang-dai expects the current chip market boom to last longer than previous cycles.
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