TLDRs;
- SK hynix shares jumped 9.86% to ₩395,500 after signing a memory chip supply deal with OpenAI.
- The agreement involves building two data centers modeled after the U.S. Stargate AI project, boosting investor confidence.
- Samsung and its affiliates also gained, lifting the KOSPI index over 3% to a new all-time high.
- Despite AI optimism, regulatory risks remain as U.S. export controls on chip equipment threaten Chinese plant operations.
SK hynix Inc. (000660.KS) surged nearly 10% on Thursday, closing at ₩395,500 (+9.86%), after announcing a landmark partnership with OpenAI.
The deal, which involves supplying high-performance memory chips for OpenAI’s new data centers, has fueled optimism that the South Korean semiconductor leader will play a central role in powering the global AI boom.
The rally marked SK hynix’s strongest single-day gain in months, pushing its stock to a record high. Investors cheered the company’s deepening alignment with OpenAI, a partnership widely seen as validation of South Korea’s position as a global semiconductor hub.
OpenAI’s data center expansion
According to reports, OpenAI will collaborate with both SK hynix and Samsung Electronics to construct two advanced data centers modeled after the ambitious US$500 billion Stargate project in the United States.
These centers are expected to host massive AI workloads, demanding cutting-edge DRAM and NAND memory, an area where SK hynix is already a global leader.
The agreement highlights OpenAI’s urgency in scaling infrastructure to meet growing demand for generative AI applications. For SK hynix, the deal represents not only a sales boost but also strategic positioning in one of the most lucrative technology trends of the decade.
Market rally lifts KOSPI index
The OpenAI deal had ripple effects across the South Korean market. Samsung Electronics rose more than 4%, hitting its highest level since January 2021, while SK hynix’s surge of nearly 10% propelled the KOSPI index over 3% to a record peak.
Affiliates of Samsung, including Samsung SDI, Samsung C&T, and Samsung SDS, also benefited, as investors speculated that AI-related partnerships would drive new growth opportunities.
Analysts note that global AI demand has already become a major driver of South Korea’s export performance, helping to offset global macroeconomic uncertainty.
Geopolitics and regulatory risks remain
Despite the market enthusiasm, SK hynix faces a challenging regulatory landscape. Just last month, both Samsung and SK hynix were closely monitoring U.S. export restrictions tied to chipmaking equipment at their Chinese plants. The U.S. Commerce Department recently closed a loophole that had allowed shipments without individual licenses, raising concerns over potential production delays in China.
While the Biden administration signaled that it would continue allowing Korean firms to operate existing fabs, restrictions on upgrades could hinder future growth. This regulatory uncertainty underscores how deeply intertwined global politics and semiconductor supply chains have become.
Still, Thursday’s surge reflects that, at least in the short term, markets are more focused on the AI growth story than geopolitical risk.
