Why is SK Hynix stock surging today?

SK Hynix stock surged 5.9% to ₩1,294,500 on Wednesday, staging a powerful recovery from deep losses in recent sessions on broad concerns over the sustainability of AI infrastructure spending.

The primary ignition came from Super Micro Computer’s earnings surprise released after the U.S. market close on Tuesday, which revived conviction that demand for AI servers — and by extension, the high-bandwidth memory chips that SK Hynix supplies — remains robust.

A company-specific catalyst added further fuel: activist fund Align Partners Asset Management publicly disclosed today that it holds a 1.5% stake in SK, the group’s top holding company, and argued that SK Hynix’s strong financial performance is being discounted twice over as its value passes through the group’s intermediate holding layers. Analysts at domestic brokerages reinforced the bullish case, noting that current valuations are already pricing in a potential 2028 memory downcycle that has yet to materialize, making the recent correction appear overdone relative to fundamentals.

The broader Korean market provided a powerful tailwind: the KOSPI surged sharply enough to trigger the first buy-side sidecar — a temporary suspension of program buy orders — since late August. Easing oil prices and a stabilization in U.S. long-term Treasury yields also helped reduce pressure on risk assets, encouraging institutional and retail investors alike to step back into oversold positions.