SK Hynix Faces Moment of Truth After 12% Rout: Monday’s Nvidia Briefing in Focus

SK Hynix shares drop 12.3% after historic rally; Nvidia's Jensen Huang and SK Group's Chey Tae-won to announce cooperation on DRAM for Vera Rubin platform, but market awaits concrete details.

The worst single-day plunge in months has left SK Hynix shareholders searching for a catalyst, and one is due on Monday morning. Nvidia chief Jensen Huang sat down with SK Group chairman Chey Tae-won over the weekend in Seoul, and the two sides have scheduled a joint press conference for June 8 that could either justify the stock’s eye-watering rally or expose how much of it was already priced in.

SK Hynix closed Friday at 2,070,000 Korean won, shedding 12.3% in a session that erased billions in market capitalisation. The selloff followed a run that had pushed the shares to a 52-week high of 2,407,000 won just days earlier, leaving them 14% below that peak even after the decline. On a year-to-date basis, the stock remains up more than 200%, and at current levels it still trades 42% above its 50-day moving average of around 1,457,000 won — a stark reminder of the altitude from which it fell.

Investors are now waiting to see whether Monday’s announcement will deliver concrete details or remain a broad strategic pledge. Huang told Korean media after meeting Chey that Nvidia’s upcoming Vera Rubin and Vera CPU platforms would use DRAM from SK Hynix, reinforcing the chipmaker’s role in the AI supply chain. He also warned that memory shortages would persist for “several years,” echoing earlier comments about constraints spanning wafers, packaging and silicon photonics. SK Telecom is expected to be part of the announcement as well, suggesting the scope may extend beyond pure chip supply into infrastructure and telecommunications.

The specific shape of the cooperation will matter greatly for SK Hynix’s stock. A technology or volume commitment tied directly to DRAM would provide the earnings catalyst that the market craves, while a looser group-level agreement could leave traders waiting for more measurable revenue impact. SK Hynix has already stated it intends to double its memory chip wafer capacity over the next five years, a move that signals confidence in sustained demand. Yet the competitive landscape is shifting: Nvidia has now certified all three major HBM4 suppliers — SK Hynix, Samsung and Micron — for its Vera Rubin platform, removing the exclusivity that had been a key part of the SK Hynix narrative.

The Friday rout came despite the upbeat signals from Huang’s visit, underscoring how vulnerable the stock is to profit-taking at these elevated levels. The broader AI memory story remains intact, but with the shares already reflecting years of growth, Monday’s briefing needs to show that the story is getting clearer, not just louder.