SEOUL — Shares of SK Hynix's U.S.-listed American depositary receipts climbed 4.12%, or $6.86, to $173.19 as of 9:59 a.m. EDT Monday, extending a volatile but broadly upward run for the South Korean memory chipmaker as investor enthusiasm for artificial intelligence-driven memory demand continued to reassert itself following weeks of sharp swings.

Monday's gain came amid renewed optimism tied to expanding AI memory demand, according to market analysis, with the stock benefiting from broader momentum across the semiconductor sector as investors continued positioning around companies seen as key suppliers to the ongoing AI infrastructure buildout.

The rally builds on a dramatic run for SK Hynix's ADRs since their debut on Wall Street in July. The company priced its initial offering of 177.9 million ADRs at $149 each, raising proceeds of $26.5 billion in what became the largest-ever initial share sale in the United States by a foreign company. The shares opened at $170 on their first day of trading and closed that session at $168.01, up 12.8% from the offering price, reflecting immediate and substantial investor demand for exposure to the memory chipmaker.

Since that debut, however, SK Hynix's American shares have traded with significant volatility. According to market tracking data, the stock closed near $169.50 on July 23 before sliding into the low $140s by Aug. 11, then rebounding sharply back above $170 by Aug. 14. That pattern of steep declines followed by rapid recoveries has continued into this week, with the stock's swings tied closely to headlines regarding the company's various AI infrastructure partnerships and........

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