SK hynix's stock surged 5.00% during the 24-hour trading session, marking a significant rebound for the memory chip giant.

The rally was driven by optimistic comments from SK Group Chairman Chey Tae-won, who projected that AI semiconductor demand could surge 60% to 100% year-over-year next year, with overall memory demand growth expected to be 50% to 60%. He noted that major manufacturers have virtually no substantive capacity expansion plans, suggesting a widening supply-demand gap that could benefit established players like SK hynix.

The stock had previously declined over 16% across two consecutive trading sessions, reaching oversold levels. Analysts noted that SK hynix's forward PE ratio had dropped to historically extreme lows, making the current level a contrarian buying opportunity. The broader memory sector also rallied in sympathy, supported by industry analysis suggesting that the proliferation of efficient, large-scale AI models like China's Kimi K3 will continue to drive robust demand for high-bandwidth memory, where SK hynix is a leading supplier.