SKHX Reclaims 14% as NVIDIA's Memory Pact Powers a Circuit-Breaker Round-Trip

The Round-Trip Off Monday's Circuit Breaker

SKHX is trading near $1,422, up 14.31% over the past 22 hours, which fully reclaims the ground SK hynix lost in Monday's market crash. On June 8 the KOSPI plunged more than 8% and tripped a Level 1 circuit breaker as a global tech selloff and U.S. rate fears hit Korean equities, dragging SK hynix down with the index. The next session was a mirror image: the KOSPI rebounded 4.8% and KOSPI 200 futures hit +5%, triggering a buy-side sidecar — the eleventh such activation of 2026 — with SK hynix up roughly 8% on the day. SKHX is an oracle tracker that converts the Seoul-listed shares from won to dollars, so the perp rode the same V-shaped recovery nearly one-for-one, minus whatever basis the USD/KRW leg introduced.

NVIDIA Is the Bid Under the Bounce

This isn't just dip-buying. On June 8 in Seoul, SK hynix and NVIDIA signed a multi-year technology partnership that places SK hynix at the center of NVIDIA's AI-factory roadmap. Under the deal, SK hynix will co-develop memory for NVIDIA's Vera Rubin supercomputers, Vera CPUs, RTX Spark PCs and Jetson Thor robotics platforms and begin shipping HBM4 — the next generation of high-bandwidth memory — in the second half of 2026. The two also agreed to apply NVIDIA's CUDA-X, PhysicsNeMo and Omniverse stack to chip design and autonomous fab operations. Reuters framed it as one of several agreements Jensen Huang signed during his Seoul visit, with Huang calling SK hynix 'an extraordinary partner,' and Bloomberg detailed the pact to develop next-generation chips. Practically, it locks SK hynix's capacity expansion to NVIDIA's product cadence — the clearest signal yet that its HBM franchise is spoken for through the buildout.

A Narrow Base and a Leveraged Tape

The setup cuts both ways. SK hynix and Samsung together account for roughly 72% of the KOSPI's year-to-date gains, and only about 4% of index components sit at record highs — breadth is thin, and the same two names that powered this bounce are what dragged the index into a circuit breaker a day earlier. Margin balances near 37.74 trillion won mean leverage amplifies the next move in either direction. SK hynix set an all-time high of 2,407,000 won on June 2 and is up roughly 280% over the past year, so this is a momentum name reclaiming a level, not breaking ground at a fresh peak. For SKHX specifically, the won-to-dollar oracle stacks an FX layer on top of the equity move: the NVIDIA deal underwrites the structural bid, but another macro wobble can re-trip the same circuit breaker that started this round-trip.