Kospi surges 7% as SK Hynix earnings fuel AI stock rebound South Korean chipmakers led a broader AI recovery after SK Hynix reported a sevenfold profit surge and announced another $45 billion in shareholder returns. – SK Hynix climbed 11% and Samsung gained 9%, while Micron and…
nDisk each rose 4% in U.S. premarket trading. – AI stocks have recovered over the past few days following weeks of pressure, with SK Hynix forecasting memory shortages through at least 2030. South Korea’s Kospi surged 6.6% on Wednesday as stronger-than-expected earnings and a substantial shareholder payout from SK Hynix reignited investor appetite for artificial intelligence stocks
SK Hynix climbed 11%, while Samsung Electronics jumped 9%. The rally has extended to U.S. premarket trading, where Micron Technology (MU) and SanDisk (SNDK) both gained 4%. The gains build on a recovery in the AI sector over the past few days, following weeks of pressure as investors questioned the AI infrastructure buildout.
SK Hynix reported September-quarter operating profit of 83.3 trillion won ($62.5 billion), a sevenfold increase that exceeded analyst forecasts by more than 7%, Bloomberg reported. The memory chipmaker also announced plans to return another 60 trillion won ($45 billion), through buybacks and dividends during the remainder of the fiscal year. SK Hynix said conventional and high-bandwidth memory capacity is sold out through 2029, with shortages expected to persist through at least 2030, according to Bloomberg.