Investing.com– South Korea’s benchmark stock index hit a record high on Monday, as chipmakers extended their rally on artificial intelligence optimism and tightening memory supplies.
The index jumped as much as 5% to a new all-time high of 7,876.60 points by 03:28 GMT.
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shares hit a record high on Monday, surging as much as 13%.
Rival also rallied sharply, adding to gains that recently pushed the company above a $1 trillion market valuation amid optimism over AI-related chip demand.
Reuters reported last week that SK Hynix has been inundated with “unprecedented” offers from major technology companies seeking to secure supplies of advanced memory chips used in AI servers.
According to the report, some customers offered to fund new production lines and help finance costly ASML lithography equipment, as available chipmaking capacity has effectively run out.
The shortage has been driven by surging demand for high-bandwidth memory (HBM) chips used in AI accelerators from firms such as Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META), and Alphabet (NASDAQ:GOOGL).