SK hynix ADR (SKHY) surged 5.75% in pre-market trading on Friday, extending a powerful rebound that has swept through the global memory chip sector. The rally comes as a confluence of positive catalysts—including a rare vote of confidence from the company's top leadership and renewed optimism in AI-driven demand—fueled a sharp recovery from the stock's recent lows.

The primary spark for the upswing was SK Group Chairman Choi Tae-won's purchase of 3,620 shares of SK hynix on the open market for approximately 4.8 billion Korean won (about $3.34 million). This marks the first time the chairman has held shares directly in a personal capacity, having previously controlled the chipmaker only indirectly through SK Square. With SK hynix having retreated over 50% from its June highs, the move was widely interpreted by the market as a bottom-fishing signal, significantly boosting investor sentiment both in Seoul and overseas.

The broader memory chip sector also provided a strong tailwind, with peers such as Micron Technology, SanDisk, Seagate, and Western Digital all posting substantial gains. The sector-wide bounce was further underpinned by strong earnings from US tech giants Amazon and Microsoft, which reignited confidence in sustained AI infrastructure spending. Additionally, UBS initiated coverage on SK hynix's US-listed shares with a Buy rating and a $204 price target, citing structural improvements in the memory industry driven by AI-related demand. The combination of leadership confidence, sector-wide momentum, and AI optimism has fueled the stock's dramatic pre-market surge.