Nvidia and SK Hynix announced a new partnership for components for Nvidia’s Vera Rubin accelerators.
- NVDA shares jumped 2% in the overnight session.
- SK Hynix’s sister company SK Telecom said it would build a gigawatt-scale AI cloud in South Korea using Nvidia technology, with the first AI data center to come online in 2027.
- On Monday, South Korea’s KOSPI suffered a sharp fall, weighed down by declines in major tech stocks.
Nvidia Corp. shares jumped 2% in overnight trading ahead of Monday after the AI chip giant announced a major partnership with South Korea’s SK Hynix for its next-generation Vera Rubin system.
The move comes after a 6.2% plunge on Friday, when the broader market sold off sharply following a stronger-than-expected jobs report and a rotation out of technology stocks after Broadcom issued a softer-than-expected forecast. Nasdaq futures were up marginally as of Sunday night.
Nvidia-SK Hynix Deal
As part of the deal, SK Hynix will supply memory chips and components for Nvidia’s Vera Rubins, which will begin shipping to customers in the third quarter. The company said it would enter new AI fields via the partnership, such as personal AI and physical AI, and that the deal would help maintain a stable supply of memory chips despite the advanced memory semiconductors' long development cycles.
Meanwhile, SK Hynix’s sister company SK Telecom said it would build a gigawatt-scale AI cloud in South Korea using Nvidia’s technology, with the first AI data center to come online in 2027.
The broad tie-up gives the Korean company a boost as it prepares to expand significantly into the next-gen of high-bandwidth memory, known as HBM4. Nvidia CEO Jensen Huang confirmed for the first time last week it’s cleared Samsung, SK Hynix and Micron Technology to supply that product, indispensable for top-end systems.
Sharp Selloff In KOSPI
Incidentally, the South Korean market came under heavy pressure on Monday, seemingly reacting to Friday’s sharp selloff in U.S. equities, particularly technology stocks. The benchmark KOSPI triggered a circuit breaker shortly after the opening bell and remained sharply lower as of 10:30 am Korea time (GMT+9), while Samsung and SK Hynix had plunged 9% and 6%, respectively.
Retail View On NVDA
The mood is sombre for Nvidia as well. The stock has significantly underperformed rivals such as Intel and Advanced Micro Devices this year, despite reporting remarkable financial performance in the last quarter.
On Stocktwits, retail sentiment for NVDA remained ‘bullish’ — unchanged over the past week — amid ‘low’ message volume, although many traders cheered the SK Hynix deal and expected NVDA to gain strongly.
“SKHYNX collab MEGA News!! up at least 5% tomorrow!” said a trader. Nvidia’s shares are up 10% year to date, compared to the 79% rally in the iShares Semiconductor ETF (SOXX).
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