SK Hynix achieved a stunning 557% jump in operating profit for Q2 2026, hitting KRW 60.54 trillion. On the surface, it looked like a blockbuster quarter fueled by growing demand for AI memory chips. Yet, the South Korean chipmaker’s shares fell sharply, dropping nearly 10% at the Korea Exchange. This plunge happened because analysts expected even more about KRW 64 trillion so missing by KRW 3.5 trillion triggered a harsh market reaction.
This was no ordinary selloff. The broader KOSPI index also tumbled about 6%, dragging down heavyweight tech stocks like SK Hynix. Investors are now questioning if the rapid AI spending boom is hitting a speed bump. SK Hynix’s main product, high-bandwidth memory (HBM), supplies giants like Nvidia that power AI hardware. Revenue climbed to KRW 79.32 trillion, but concerns arose around product ramp challenges and reliance on high-end AI memory rather than traditional DRAM chips.
The shockwaves even reached crypto markets. On the decentralized perpetual futures exchange Hyperliquid, SK Hynix-linked contracts suffered an 18 20% flash crash. This sparked $57 million in liquidations across almost 1,000 accounts. Unlike traditional exchanges where market makers and circuit breakers mitigate volatility, decentralized platforms can amplify stock moves into brutal losses for traders.
