SK hynix Inc. is trading 1.6% up now at $1235.00 after the company announced a major expansion of its production capabilities.
- The company plans to triple its wafer production capacity by 2034 to meet the surging demand for memory chips driven by artificial intelligence.
- Chairman Chey Tae-won stated that wafer capacity is expected to double within the next five years.
- This news follows a period of high volatility, with the stock experiencing a significant drop in the previous session.