SK hynix profit surge lifts Kospi over 6%

The SK hynix results arrived as the global race to build AI data centers has transformed the company's fortunes, despite concerns that the sector may be overvalued. The report added to optimism surrounding the sector after Anthropic said Monday that its first-half revenue surged about 1,300 percent and flagged heavy capital spending ahead, fueling enthusiasm ahead of an expected IPO next month. AI stocks had taken a beating earlier this month over worries about the massive investments and debt levels in the sector, but then welcomed Anthropic's IPO. Against that backdrop, the memory-chip supplier's profit surge and $45 billion shareholder return offer a concrete earnings signal for a trade that has swung on sentiment.