Micron's fiscal Q3 profit and revenue beat lifted confidence in AI memory demand, sending SK Hynix and Samsung shares up 11.6% and 6.2% and boosting the KOSPI index 5.3%. SK Hynix plans to raise 45.45 trillion won through Nasdaq listing to fund AI memory capacity and bolster Nvidia’s supply chain.
Micron’s fiscal third-quarter profit and revenue both topped expectations, with customers committing $22 billion to secure memory chip supplies for AI data centers. The upbeat results propelled SK Hynix shares 11.6% higher and Samsung shares 6.2% higher, lifting the benchmark KOSPI index by 5.3%.
SK Hynix announced plans to raise 45.45 trillion won through a secondary Nasdaq listing to finance expansion of its AI-focused memory chip capacity. The fundraising aims to accelerate production to meet surging demand from data center operators and AI developers.
The capital infusion and sector rally strengthen Nvidia’s memory supply outlook by reducing risk of DRAM and NAND shortages for its AI GPUs. Expanded capacity at SK Hynix could help stabilize memory prices and support Nvidia’s margins in its data center business.
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