SK Hynix Jumps 13% on Record Profit, Lifting Chip Stocks and South Korea's KOSPI 6.6%

SK Hynix shares surged 13.3% after the memory chipmaker reported a record quarterly profit, driving South Korea's KOSPI index up 6.63% in a single session.

The strength spread to US markets, where the Philadelphia Semiconductor Index gained 1.75% and technology led all S&P 500 sectors with a 0.80% rise. Elsewhere in AI infrastructure, Vertiv jumped nearly 17% on a strong long-term demand outlook and Oracle gained about 11% after setting new financial targets at an investor day.

The rally highlights how much of the market's recent leadership rests on AI-related hardware demand. Investors holding AI server and infrastructure names, such as Super Micro Computer, will be watching whether the memory and networking strength carries through.