SK Hynix Gains 2.4% After Altman's South Korea Visit Amid HBM Supply Talks
Summary
- SK Hynix shares rose 2.4% after Sam Altman's visit to South Korea, bringing HBM supply and discussions on AI infrastructure cooperation into focus.
- SK Hynix said customer requests for HBM supply are more than double its current available supply.
- Nomura and Rosenblatt maintained a positive outlook and buy ratings on SK Hynix, while a possible $12 billion special dividend was reported but has not been finalized.
Forecast Trend Report by Period
SK Hynix shares rose 2.4% after OpenAI Chief Executive Officer Sam Altman's visit to South Korea, with attention centered on talks over high-bandwidth memory, or HBM, supply and cooperation on artificial intelligence infrastructure.
Walter Bloomberg reported on November 2 that Altman met SK Group executives to discuss HBM supply and matters related to the buildout of Stargate AI infrastructure.
SK Hynix said customer requests for HBM supply are more than double the company's currently available capacity.
Nomura maintained a positive view on SK Hynix. Rosenblatt also reaffirmed its buy rating, brushing aside recent concerns over intensifying competition.
Separately, a report said SK Hynix may issue a special dividend of about $12 billion related to gains from its investment in Kioxia. The special dividend has not been finalized.
