Samsung Electronics climbed 5.3% and SK Hynix surged 9.2% on July 23 as investors bet South Korean chipmakers will profit from global AI spending.
The rallies reflected growing confidence that memory chip demand from data centers training AI models will stay strong. Asian semiconductor stocks broadly rallied after Micron Technology beat earnings expectations, reviving optimism in AI-driven memory demand.
Market Momentum Builds
The benchmark Korea Composite Stock Price Index rose 4.1% on the day. Samsung and SK Hynix account for more than 55% of the KOSPI market capitalization, so their gains drove much of the benchmark rise.
The broader narrative is clear: whoever controls high-bandwidth memory and advanced semiconductors controls AI. Data centers building out inference clusters need massive quantities of chips, and prices have strengthened as supply tightens.
SK Hynix Eyes American Expansion
SK Hynix drew additional support after announcing plans to raise as much as $29.4 billion through a Nasdaq listing of American depositary receipts. Proceeds will expand AI memory production capacity, signaling confidence in sustained demand.
The ADR listing also gives SK Hynix direct access to American capital markets and investor base. For a company racing to keep pace with Samsung globally, tapping US investors matters.
Chip scarcity is the limiting factor in the AI race, and Asia owns the foundries.
References
Bloomberg. (2026). Asian Stock Markets Rally on AI Optimism. Published July 23, 2026.
