Asian Chip Stocks Rise as Anthropic IPO Filing Rekindles AI Bets

Asian semiconductor stocks jumped, as Anthropic PBC’s initial public offering filing helped renew investor enthusiasm for the artificial intelligence trade.

Shares of Samsung Electronics Co. and SK Hynix Inc. climbed more than 5% each in early trading, pushing South Korea’s equity benchmark Kospi up as much as 4.5%. Japan’s Nikkei 225 Stock Average rose as much as 2.4%, with chip-related Advantest Corp. and Sumco Corp. up more than 5% each. Taiwan’s Taiex rose more than 1% before paring its gain.

Claude-developer Anthropic moving a step closer to listing topped a list of news items overnight that helped calm the market’s recent worries on AI financing. Other highlights included SpaceX’s $40 billion equipment-finance lease and Meta Platforms Inc.’s plan for a $95 billion share sale.

“Anthropic’s landmark IPO filing alongside Meta’s aggressive capex push has reignited broader risk appetite, pulling capital out of its defensive crouch and firmly restoring chip stocks back to the driver’s seat,” said Hebe Chen, a market analyst at Vantage Global Prime.

The rally comes ahead of earnings due this week from Samsung and SK Hynix as well as Big Tech spenders Amazon.com Inc. and Alphabet Inc. The reports will provide further clues on the health of the AI rally, which has struggled to get back on track after a summer selloff.

The Kospi is down more than 35% from its June peak, hurt by drops in Samsung and SK Hynix on AI doubts. Foreign investors have sold more than $150 billion worth of stocks in the South Korean index this year, on a net basis.

“The key question is whether this week’s results can restore confidence in the durability of AI-related demand,” said Jung In Yun, chief executive officer at Fibonacci Asset Management Global. “For the recovery to last, we need reassuring earnings guidance and sustained foreign buying.”

Investors in Korean memory stocks are also looking for generous dividend and buyback plans to help fuel a sustained rebound. SK Hynix is preparing to announce additional shareholder returns worth as much as 60 trillion won ($45 billion) along with its earnings on Wednesday, Seoul Economic Daily reported, citing unidentified people in industry.