SK hynix shares fell 5.6% to $161.85 in morning trading on Tuesday, reversing a 5.6% gain from the prior session amid a broader pullback in AI-related equities.
The decline comes as the NASDAQ Composite dropped more than 1.33% during the session, pressuring high-growth tech and semiconductor names tied to artificial intelligence demand. SK hynix, a key supplier of memory chips for AI servers, had surged in the previous two sessions on optimism over sustained AI infrastructure spending.
South Korea’s presidential office denied reports that Washington had pressured Seoul to prioritize U.S.-based memory chip manufacturing as part of a $350 billion investment commitment to the United States. The office did not provide further details on ongoing bilateral negotiations regarding semiconductor supply chains or investment incentives.
The company recently announced plans to invest $38 billion in two new fabrication plants in South Korea, signaling continued expansion in domestic production capacity. Meanwhile, South Korean retail investors had been purchasing SK hynix American Depositary Receipts (ADRs) at a premium of roughly 10% to shares listed on the Korean exchange, reflecting strong domestic interest in the stock despite recent volatility.
The broader market downturn, combined with profit-taking in AI-linked equities, contributed to the sharp reversal in SK hynix’s share price after its recent rally.
