A new OpenAI model has suddenly become good news for memory chip manufacturers.
Samsung Electronics and SK Hynix rallied sharply in Seoul on Monday after OpenAI’s GPT-6 Astra revived enthusiasm around AI infrastructure.
Samsung rose about 4.3% in early trading, while SK Hynix climbed roughly 6.1%, after its US ADR jumped 8.1% on Friday.
Astra is built to handle longer, multi-step work across software and computers. If companies hand more tasks to autonomous agents, data centres may need more GPUs, HBM, server DRAM and storage.
Astra is changing the equation from cheaper AI to more AI
Falling token costs and more efficient models have raised fears that companies might eventually need less infrastructure to run AI workloads. Astra suggests the opposite outcome is also possible.
OpenAI says the model can browse, write software, use computers and complete complex professional workflows. That could make it practical to assign AI systems more work.
Meritz Securities analyst Hwang Soo-wook argued that lower token prices should not automatically be read as weaker hardware demand.
Cheaper AI can encourage users to assign longer and more complicated jobs to agents, expanding total compute workloads.
Hwang also pointed to recovering GPU rental prices after Astra’s release as evidence that computing demand remains strong.
Kiwoom Securities analyst Han Ji-young told Seoul Economic Daily that Astra had brought AI-demand momentum back into focus and said selling pressure on semiconductor stocks may be nearing exhaustion.
Astra is arriving when memory inventories are already thin
The rally also has a fundamental backdrop beyond model excitement.
KB Securities said Monday that memory inventories at Samsung and SK Hynix had fallen below 10 days of supply.
Research head Kim Dong-won told Seoul Economic Daily that next year could bring the “tightest supply conditions in history.”
KB expects global hyperscaler AI infrastructure spending to reach about $1.3 trillion in 2027, up 60% from the previous year. It also projects memory’s share of that investment to climb to 57% from 14% in 2025.
The supply side could tighten further as manufacturers shift capacity towards HBM4.
Kim said HBM4 requires roughly three times the wafer capacity of conventional DRAM. Producing more HBM4 therefore reduces capacity available for ordinary DRAM, potentially tightening both premium AI memory and conventional products.
The bull case is stronger but spending still has to follow
There are reasons not to treat Monday’s rally as proof of a new supercycle.
Samsung and SK Hynix have been highly volatile, and macro risks remain significant.
Higher US yields or renewed inflation concerns could pressure technology valuations again even if memory fundamentals remain strong.
Han said investors need to watch how quickly AI demand converts into revenue and cash flow, with upcoming US inflation data and technology earnings providing the next tests.
Astra has not suddenly created the memory boom, but gave investors another reason to believe the shortage could last longer than previously expected.
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