Key Takeaways
- SK Hynix shares climbed over 7% in Seoul on September 7 following OpenAI’s GPT-6 Astra model announcement
- Samsung Electronics saw gains of approximately 4% to 5% amid revitalized AI infrastructure expectations
- KB Securities reports memory stockpiles at both Samsung and SK Hynix have declined to under 10 days of available supply
- DB Securities boosted its SK Hynix target price to ā©2.3 million, citing HBM4 shipment expansion
- Wall Street analysts maintain a Strong Buy rating on SK Hynix with average targets suggesting over 50% potential gains
Shares of SK Hynix soared more than 7% during Monday trading in Seoul on September 7, building on an impressive 8.1% rally in its US ADR on Friday. The driving force behind this momentum was OpenAI’s introduction of GPT-6 Astra, representing the company’s most advanced artificial intelligence system to date.
Samsung Electronics similarly experienced gains ranging from 4% to 5% during early Seoul market activity, as the entire memory semiconductor industry responded positively to strengthened AI infrastructure sentiment.
OpenAI President Greg Brockman characterized Astra as potentially representing an early manifestation of artificial general intelligence (AGI). The system demonstrates capabilities including web navigation, software development, computer operation, and autonomous handling of sophisticated professional tasks.
This evolution in functionality carries significant implications for hardware manufacturers. As organizations delegate increasingly complex, multi-stage operations to AI systems, data infrastructure will likely require expanded GPU capacity, high-bandwidth memory solutions, server DRAM modules, and storage resources to accommodate these demanding workloads.
Lower AI Costs Don’t Necessarily Mean Reduced Hardware Requirements
A significant worry weighing on semiconductor equities in recent months centered on whether declining token expenses and improved model efficiency might diminish the infrastructure volume required for AI operations. Astra’s introduction challenges this assumption.
Meritz Securities analyst Hwang Soo-wook contended that more affordable AI services could motivate users to delegate more extensive and intricate assignments to autonomous agents, thereby expanding aggregate computational requirements rather than contracting them. He further highlighted recovering GPU rental pricing following Astra’s debut as confirmation that computing demand maintains strength.
Kiwoom Securities analyst Han Ji-young informed Seoul Economic Daily that Astra successfully restored focus on AI demand momentum and indicated that downward pressure on semiconductor stocks might be approaching its conclusion.
Memory Supply Reaches Critical Levels
The market rally extends beyond mere sentiment. KB Securities disclosed on Monday that memory inventories at both Samsung and SK Hynix had fallen beneath the 10-day supply threshold.
KB research director Kim Dong-won suggested the coming year could deliver the most constrained supply environment on record. KB forecasts worldwide hyperscaler AI infrastructure expenditure reaching approximately $1.3 trillion by 2027, representing a 60% increase from the previous year, with memory’s portion of that investment expanding to 57% from merely 14% in 2025.
Supply constraints could intensify as producers redirect manufacturing capacity toward HBM4 production. HBM4 manufacturing demands approximately triple the wafer capacity compared to traditional DRAM, meaning increased HBM4 output necessarily reduces available capacity for conventional memory offerings.
DB Securities analyst Seungyeon Seo elevated his SK Hynix price objective to ā©2.3 million from ā©2 million, emphasizing HBM4 shipment expansion and strengthening pricing leverage. Seo acknowledged that SK Hynix’s third-quarter financial results might fall marginally short of market expectations due to adverse currency exchange movements, but maintained that semiconductor industry fundamentals remain robust.
SK Hynix’s Korean-traded shares hold a Strong Buy consensus among analysts, with the average price objective standing at ā©2,708,750, indicating potential appreciation exceeding 50% from present trading levels.
DB Securities anticipates the DRAM market expansion will persist through 2027, underpinned by constrained supply conditions and robust server demand fueled by intensifying competition among leading technology firms in AI infrastructure development.
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