SK Hynix announced plans to invest approximately $12.85 billion in a new semiconductor facility in South Korea, aiming to meet rapidly growing global demand for artificial intelligence (AI) memory chips.

Shares of South Korean chipmaker SK Hynix jumped as much as 15% on Wednesday, following a bullish earnings outlook from rival Samsung Electronics that boosted confidence across the semiconductor sector.

South Korea’s semiconductor industry has secured enough helium supplies to last until at least June, easing concerns that disruptions linked to Middle East tensions could hit chip production.

SK Hynix is considering raising as much as $10 billion through a potential US listing, as the chipmaker looks to expand its capacity in advanced memory and artificial intelligence technologies, according to a report.

imec has acquired a $400-million ASML High NA EUV lithography machine, one of fewer than a dozen worldwide, strengthening Europe’s role in next-generation chipmaking.

SK Hynix announced plans to invest 21.6 trillion won ($15.07 billion) to build new semiconductor production lines in Yongin by 2030, as global demand for advanced chips continues to surge.

South Korea’s benchmark stock index has reached a new milestone just one month after breaking through the 5,000 level, as surging global demand for memory chips fuels gains in the country’s largest semiconductor companies.

Samsung Electronics shares climbed to a record KRW200,000, capping a powerful six-month rally that has pushed the stock close to 200% higher as demand for memory chips surges.

South Korean stocks surged past the 5,800 mark for the first time on Friday, ending at a new record high amid optimism that forthcoming investor-friendly policies will help boost market valuations.

SK Hynix said on Wednesday that its quarterly operating profit more than doubled to a record high, comfortably beating market forecasts as relentless demand for artificial intelligence continued to lift prices for both advanced and conventional memory chips.