Shares of SK Hynix (KRX:000660) closed nearly 13% higher on Monday, ending trading at a new high of 1,447,000 won per share, after all four of the US tech giants indicated that spending on AI will not slow down, Reuters said in a same-day report.
Total AI spending is estimated to surpass $700 billion in 2026, up from about $600 billion previously, as Microsoft and Meta announced larger-than-expected capital expenditure plans, which were partly led by higher memory chip prices, while maintaining confidence in their investments, the report said.
In addition, Bank of Korea Senior Deputy Governor Ryoo Sang-dai said that the current chip market boom is likely to last longer as compared to past cycles, echoing similar outlooks from Samsung Electronics (KRX:005930) and SK Hynix during their earnings calls in April, it said.
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