Chip stocks on the fly! AMD, Micron among shares gain up to 5% as SK Hynix’s earnings boost AI trade

Micron shares gained 5.5%, while AMD rose 2.25% at their day's high. The broader chip rally also extended to other AI-linked companies, with Arm Holdings and Marvell Technology gaining around 2%.In South Korea, SK Hynix shares surged nearly 11% on Wednesday, while rival Samsung Electronics, which is scheduled to report its earnings on Thursday, gained 9%. The gains offered much-needed relief to SK Hynix shares, which had come under pressure during the second half of 2026.SK Hynix and Samsung Electronics have been among the market’s frontrunners since the beginning of 2026 as enthusiasm around AI gathered momentum.

The rally propelled South Korea’s benchmark KOSPI index to gains of around 120% at its peak.The results added to optimism surrounding the sector after Anthropic, the developer of Claude AI, filed for an initial public offering (IPO) on Monday. The company reported a sharp increase in revenue and outlined substantial spending commitments, fuelling investor interest ahead of its expected stock market debut next month.Alphabet, Microsoft earnings in focus as investors assess AI spending

Ahead of the results, shares of Google parent Alphabet rose 0.9% as investors positioned themselves ahead of the company’s third-quarter earnings announcement. Microsoft shares, however, slipped 0.6%. Investors will be looking for signs of changes in capital spending, a key driver of the AI boom, while scrutinising evidence of returns that could justify the substantial costs of building AI infrastructure.

A series of AI-related funding and investment announcements involving Meta, SpaceX, and Broadcom this week has once again tested investors’ willingness to finance further expansion. However, Anthropic’s IPO filing has provided a fresh focal point for the market, with its rapid revenue growth drawing attention even as its substantial spending commitments raise questions about the sustainability of AI investments.

AI stocks came under pressure earlier this month amid concerns about the scale of investment and rising debt across the sector. Anthropic’s IPO filing has since renewed investor interest, although questions remain about the returns companies can generate from their AI spending. Earnings from Amazon, Apple, and Intel are due on Thursday. Their results could further shape investor sentiment towards artificial intelligence amid mounting spending across the sector.(With agency inputs)Disclaimer: We advise investors to check with certified experts before making any investment decisions.