Shares of SK Hynix and Samsung Electronics hit record highs after a surge in AI-related deals, including an OpenAI–AMD partnership. Nvidia also gained amid rising demand and investment in Elon Musk’s xAI. Asian markets traded mixed, while U.S. indexes slipped amid a government shutdown.
Shares of South Korean chipmakers SK Hynix and Samsung Electronics surged to record highs on Friday, following a nearly weeklong holiday. The rally was fueled by a wave of artificial intelligence–related deals that boosted investor sentiment.
According to data from FactSet, SK Hynix shares soared 10%, while Samsung Electronics gained nearly 6%, both reaching new all-time highs. The companies are expected to benefit from a partnership between OpenAI and Advanced Micro Devices (AMD), under which Sam Altman’s firm may acquire a 10% stake in AMD. Shares of AMD have jumped more than 40% this week in response to the news.
Nvidia also gained traction, rising 2.6% this week after CEO Jensen Huang told CNBC that demand has strengthened in recent months. Huang also confirmed Nvidia’s participation in funding Elon Musk’s AI startup, xAI, expressing that he is “super excited about the financing opportunity they’re doing.”
Across the Asia-Pacific, markets traded mixed on Friday as investors assessed the economic outlook and digested Wall Street’s overnight declines.
In Japan, the Nikkei 225 slipped 0.33%, while the Topix fell 0.92%. South Korea’s Kospi rose 0.66% after reopening from the holiday, though the Kosdaq slipped 0.37%. Meanwhile, Australia’s S&P/ASX 200 edged down 0.26%, the Hang Seng Index in Hong Kong dropped 1%, and mainland China’s CSI 300 declined 1.01%.
Overnight in the U.S., all three major averages finished lower. The S&P 500 and Nasdaq Composite both retreated from their intraday record highs on Thursday, pausing after the previous session’s strong gains as the U.S. government shutdown persisted.
The S&P 500 fell 0.28% to 6,735.11, the Nasdaq Composite slipped 0.08% to 23,024.63, and the Dow Jones Industrial Average dropped 243.36 points, or 0.52%, closing at 46,358.42.