Memory Mania: SK Hynix Sends Kospi Soaring as $BTC Nudges $81,700

South Korea’s Kospi surged 6.6%, nearly 7%, on Wednesday, Oct 28, 2026, after SK Hynix delivered a sevenfold profit surge and announced another 60 trillion won ($45 billion) in shareholder returns, reigniting investor appetite for AI stocks.

SK Hynix reported September-quarter operating profit of 83.3 trillion won ($62.5 billion), a sevenfold increase that exceeded analyst forecasts by more than 7%, Bloomberg reported. The memory chipmaker plans to return another 60 trillion won ($45 billion) through buybacks and dividends during the remainder of the fiscal year.

SK Hynix climbed 11%, while Samsung Electronics jumped 9%. The gains carried into U.S. premarket trading, where Micron Technology (MU) and SanDisk (SNDK) each rose 4%.

SK Hynix said conventional and high-bandwidth memory capacity is sold out through 2029, with shortages expected to persist through at least 2030, according to Bloomberg. AI stocks have recovered over the past few days following weeks of pressure, when investors questioned the AI infrastructure buildout. The results suggest tight memory supplies continue to support chipmakers’ earnings even as concerns about the cost and funding of AI infrastructure remain a focus for investors.

Bitcoin ($BTC) also saw a slight bounce, rising to $81,700. CoinDesk’s Oct 28, 2026, 5:59 a.m. EDT report was by James Van Straten, AI Boost, and edited by Oliver Knight.