Samsung Electronics, SK Hynix Gain as U.S. AI, Chip Stocks Surge

Samsung Electronics Co. and SK Hynix Inc. were among the early gainers on Sept. 22 as South Korean chip-related stocks tracked an overnight surge in U.S. artificial intelligence and semiconductor shares.

As of 9:09 a.m., Samsung Electronics was up 2.65% from the previous session at 280,000 won ($205). SK Hynix had gained 2.94% to 1.923 million won ($1,408). Samsung Electronics preferred shares rose 2.40% to 213,000 won ($156), while SK Square added 2.93% to 1.16 million won ($849). Samsung Electro-Mechanics jumped 6.44% to as high as 1.521 million won ($1,114).

The rally in South Korean chip shares followed a broader wave of AI optimism that spread through New York trading overnight. The tech-heavy Nasdaq Composite climbed 599.55 points, or 2.3%, to close at 27,122.09, a record closing high. The gain was the largest since Sept. 4.

The S&P 500 rose 1.5% to 7,764.70, while the Dow Jones Industrial Average added 0.7% to 52,048.83.

Meta Platforms Inc.'s successful rollout of its personal AI agent Muse helped fuel the optimism. Muse, released on Sept. 8, rose to No. 1 among free apps on Apple's App Store, reviving expectations for AI-related companies. Meta shares surged 11.4%, their biggest gain since April last year.

Semiconductor stocks also drew heavy buying. Advanced Micro Devices Inc. rose 10% to $615.52, lifting its market capitalization above $1 trillion for the first time. AMD joined Nvidia Corp., Broadcom Inc. and Micron Technology Inc. among U.S. chipmakers with market values above $1 trillion. Intel Corp. climbed 12.1%, while Qualcomm Inc. gained 9.3%.

"The only two companies making the actual computing hardware for AI agents are Intel and AMD," Wedbush analyst Matthew Bryson said, explaining why CPU makers drew attention. Investor sentiment was also supported by the view that major companies have not scaled back related spending even as some voices have called for the pace of AI development to be moderated.

Easing external uncertainty also lent support to equities. President Donald Trump left open the possibility of meeting Iranian President Masoud Pezeshkian on the sidelines of the United Nations General Assembly, while AI and mineral regulations have been cited as key agenda items ahead of a U.S.-China summit.

International oil prices fell sharply on expectations of easing Middle East tensions. West Texas Intermediate slid 4.5% to $95.78 a barrel, while Brent crude fell 3.4% to $100.34, easing some of the strain from the recent surge in oil prices.