AI data center boom sends SK Hynix stock to a massive 12% rally
Shares of SK Hynix surged as much as 12% on Monday, extending earlier gains after strong earnings reports from major U.S. technology companies reinforced expectations of continued heavy investment in artificial intelligence data centers.
The rally was supported by increased foreign buying, as investors responded to signals that global tech giants are maintaining aggressive spending plans on AI infrastructure, a key driver of demand for advanced memory chips, News.Az reports, citing Reuters.
The South Korean chipmaker outperformed its larger domestic rival Samsung Electronics, which has recently faced pressure due to labor tensions and concerns over potential strikes linked to demands for a greater share of AI-related profits.
RECOMMENDED STORIES
- Boat fire in Dubai Creek sends smoke over city, authorities confirm no injuries
- President Ilham Aliyev explains the reasons for the growing international respect for Azerbaijan today
- Azerbaijani President: There is no need to protect Armenia from us, we have achieved what we set out to achieve
- President Ilham Aliyev: As long as political forces in Armenian society continue to live with hatred toward Azerbaijan, we must remain vigilant
SK Hynix has been a key beneficiary of the global AI boom, with demand for high-bandwidth memory chips rising sharply as companies scale up AI computing and cloud data center capacity.
By Aysel Mammadzada
Similar news
