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Shares of SK Hynix (KS:000660) surged over 10% on Monday, reaching 618,000 won, their highest level since November 1999. The rally comes amid growing optimism over plans by Amazon Web Services (AWS) and SK Group to build a 100-megawatt hyperscale AI data center in Ulsan, South Korea.
According to the South Korean presidential office, Amazon.com (NASDAQ:AMZN) will inject an additional $5 billion into the country to expand its cloud and data center infrastructure. This new commitment follows a $4 billion investment agreement announced in June, under which AWS and SK Group pledged to develop a large-scale data center complex in Ulsan. The massive project signals South Korea’s growing role in global AI and cloud computing infrastructure.
The announcement further strengthens SK Hynix’s position as a key supplier of high-bandwidth memory (HBM) chips, crucial for powering artificial intelligence systems and data centers. As AI adoption accelerates worldwide, demand for advanced semiconductors like HBM continues to soar, putting SK Hynix at the forefront of the memory chip market.
The recent surge in SK Hynix shares also follows the company’s strong third-quarter earnings, where it reported record-breaking revenue and operating profit. The performance was driven by booming global demand for AI-related chips, particularly from tech giants expanding their data and computing capabilities.
Investors view the AWS partnership as a significant growth catalyst, reinforcing SK Hynix’s strategic importance in the AI semiconductor ecosystem. With both Amazon and SK Group deepening their collaboration in South Korea, the Ulsan project marks a milestone in advancing the country’s AI, cloud, and data center industries, while positioning SK Hynix as a vital player in the next era of technological innovation.
