Share prices of technology companies surged earlier in the day in Asia, as blockbuster earnings from South Korean chipmaker SK Hynix boosted optimism around the artificial intelligence (AI) trade ahead of results from Wall Street giants Microsoft and Alphabet after the closing bell.
SK Hynix, which has been at the forefront of the AI-driven chip boom, reported on Wednesday that its third-quarter operating profit soared 632% year-on-year to a record 83.33 trillion won ($62.8 billion), driven by strong demand for advanced semiconductors.
The results lifted SK Hynix’s US-listed American depositary receipts (ADRs) by 12.17% to the day’s high of $160 apiece. Micron shares gained 5.5%, while AMD rose 2.25% at their day's high. The broader chip rally also extended to other AI-linked companies, with Arm Holdings and Marvell Technology gaining around 2%.
In South Korea, SK Hynix shares surged nearly 11% on Wednesday, while rival Samsung Electronics, which is scheduled to report its earnings on Thursday, gained 9%. The gains offered much-needed relief to SK Hynix shares, which had come under pressure during the second half of 2026.
SK Hynix and Samsung Electronics have been among the market’s frontrunners since the beginning of 2026 as enthusiasm around AI gathered momentum. The rally propelled South Korea’s benchmark KOSPI index to gains of around 120% at its peak.