SK Hynix ADR surges up to 14% as AI spending optimism lifts semiconductor stocks

U.S. equity markets rose on Tuesday as semiconductor shares rebounded, led by a sharp jump in SK Hynix’s American depositary receipts (ADRs). The Korean memory‑chip maker’s ADR climbed 13.7%‑14% to around $172, following a 4.5% rise earlier in the week that was sparked by Alphabet’s earnings report, which raised its 2026 capital‑expenditure outlook to $195‑205 billion. Investors view the higher AI infrastructure spending as a tailwind for chip manufacturers.

SK Hynix’s Nasdaq debut in early July raised $26.5 billion, the largest first‑time ADR offering by a foreign firm in the United States. The company’s shares have since shown high volatility, swinging sharply on news of capped conversion ratios and strong demand for AI‑related hardware. Analysts upgraded the stock, citing solid earnings growth and robust AI‑infrastructure demand, while the company dismissed rumors of an acquisition of Intel’s Ohio assets.

The broader market saw gains in other chipmakers, including Micron (+12%) and Intel (+8%), as well as a rise in the Philadelphia Semiconductor Index. Energy prices rose modestly, but the market’s focus remained on technology earnings and AI spending outlooks.