SK hynix extended its rally Monday, setting another intraday all-time high as investors bet on rising demand for high-bandwidth memory, or HBM, used in artificial intelligence chips.
As of 9:41 a.m., SK hynix shares were up 62,000 won, or 5.07%, at 1,284,000 won. Its market capitalization grew to about 915 trillion won, underscoring its expanding influence in South Korea’s stock market. The stock touched 1,288,000 won earlier in the session, a fresh record.
Analysts attributed the gains to expectations that HBM demand will climb as investment in AI servers increases. With global big tech companies led by Nvidia continuing to spend on AI infrastructure, SK hynix’s competitiveness in the HBM market has come into sharper focus, they said.
Samsung Electronics also rose, gaining 3,000 won, or 1.37%, to 222,500 won. The move was seen as reflecting strength in semiconductor shares in the last session of New York trading last week.
In local time on April 24, the Philadelphia Semiconductor Index jumped 4.32%. The rally was driven by expectations for stronger central processing unit demand as AI adoption spreads, and by Intel’s first-quarter results beating market expectations, according to analysts.
* This article has been translated by AI.
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