US Stock Market Move | SK Hynix (SKHY.US) rose more than 6%, and Alphabet Inc. Class C significantly increased capital spending, which helped drive demand for HBM.

On Thursday, SK Hynix (SKHY.US) rose over 6% to $175.87 per share. In terms of news, Alphabet Inc. Class C's parent company, Alphabet, released its financial report, raising its 2026 capital expenditure forecast to $195-205 billion to increase data center capacity to meet AI demand. AI servers require a large amount of high-bandwidth memory, with SK Hynix being a major supplier poised to benefit from its customers' larger capital spending plans. Additionally, SK Hynix has completed a record-breaking ADR offering on the US stock market, and the quota for converting South Korean stocks into ADRs has reached the limit of 2.5% of total shares outstanding, restricting the supply of new US stock ADRs. With demand driving this trend, the scarcity of chips has amplified the elasticity of its stock price increase.