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Investing.com-- Shares of SK Hynix (KS:000660) surged on Monday on optimism that its parent SK Group and Amazon Web Services (AWS) are building a 100-megawatt hyperscale AI data center in Ulsan, South Korea.
Amazon.com (NASDAQ:AMZN) will invest an additional $5 billion in South Korea to expand its data center infrastructure, the country’s presidential office said last week.
The latest commitment came on top of a $4 billion investment plan announced in June, under which AWS and SK Group agreed to jointly build a large-scale data center complex in Ulsan.
The move underscores SK Hynix’s role in supplying high-bandwidth memory chips to power future AI infrastructure, as the company is increasingly pivotal in the global memory-chip market.
Seoul-listed SK Hynix shares surged 10.1% to 618,000 won as of 04:03 GMT, hitting their highest since November 1999.
The rally also followed SK Hynix’s strong third-quarter earnings last week, when it posted record revenue and operating profit, helped by surging demand for AI-related chips.