SK Hynix’s shares jumped nearly 13% in a single day, while Samsung Electronics rose about 8%, pushing South Korea’s KOSPI index up by over 6%. This surge marked the biggest single-day gains ever for these chipmakers and sent the market reeling after weeks of uncertainty.
The boost came from fresh optimism surrounding high-bandwidth memory (HBM) chips, essential components for AI infrastructure. These chips, which stack layers of DRAM to deliver exceptional data throughput, have become key for AI servers. Both SK Hynix and Samsung dominate this market, making their performance a key indicator of AI technology investment.
Earlier in July, SK Hynix saw its shares plunge by roughly 15%, the steepest drop on record, amid worries that Big Tech’s AI spending might cool off. But softer US inflation numbers alleviated fears of further interest rate hikes, lifting US semiconductor stocks and sparking a rebound in Seoul. Chip-equipment maker Hanmi Semiconductor soared even higher, gaining about 25% that day.
This rally is significant beyond South Korea’s borders. When US markets regain risk appetite, capital often flows into sectors like semiconductor manufacturing worldwide. The strong demand for AI memory chips fuels that momentum, directly impacting companies at the core of the AI hardware supply chain.
The ripple effects reach the crypto world as well. Crypto mining and decentralized computing networks depend on powerful GPUs and compute resources that rely heavily on semiconductors from suppliers like SK Hynix and Samsung. As AI infrastructure expands, projects such as Render and Akash that focus on decentralized compute marketplaces stand to benefit.
