SK Hynix Shares Rally 12% as Big Tech Signals Continued AI Data Center Spending

SK Hynix shares extended gains to 12% on May 4, driven by foreign buying after major U.S. tech firms reported robust Q1 earnings and reaffirmed aggressive AI data center investment plans. The rally outpaced larger rival Samsung Electronics, which faces potential labor unrest from unionized workers demanding a larger share of AI-driven profits. The surge follows Alphabet's report that Google Cloud revenue grew 63% to over $20 billion, with all four major U.S. tech giants signaling combined AI capex will exceed $700 billion in 2026. SK Hynix is a key supplier of high-bandwidth memory chips used in AI accelerators, making it a direct beneficiary of the infrastructure spending wave. The company has also been exploring a potential $14 billion U.S. listing on Wall Street to gain broader investor exposure.