Sep 23, 2026 · 7 min
AI memory demand lifts chipmakers as Korean construction stocks retreat
SK Hynix Falls, Sandisk Jumps, Jindal Soars
The episode shows how AI investment is simultaneously supporting semiconductor sentiment and exposing uncertainty around the infrastructure needed to sustain it.
- 1AI-driven memory demand supports SK Hynix and Samsung as competition intensifies.
- 2Korean construction stocks retreat while investors await clearer AI infrastructure and nuclear project announcements.
- 3Indian IPO enthusiasm and SanDisk’s potential breakout broaden the market’s AI and technology trade.
Don't miss
The report contrasts strong AI-driven memory demand with a pullback in Korean construction stocks awaiting clearer infrastructure projects.
The brief
Caroline Hepburn and Anthony Stevens open with Asian equities, where strong AI-related memory demand supports SK Hynix and Samsung while competition remains central.
The mood shifts in Korean construction stocks: exposure to AI infrastructure, Gulf projects, and nuclear power is not enough to offset a lack of new announcements.
Global headlines widen the frame to ASML, China, the Xi-Trump meeting, trade, and rare-earth exports before the report turns to India’s IPO market.
Indian domestic demand and infrastructure themes drive interest in new listings, including Jindal Supreme, while SanDisk emerges as a possible technical breakout.
The episode’s central tension is clear: AI demand is strengthening the chip trade, but investors remain cautious about the projects required to build around it.
What was said on this episode
15 statements · 10 positive · 4 negative · 1 mixed
Memory demand is currently extremely strong.
“memory demand is pretty much insatiable”
Listen at 1:08
Samsung is catching up with Hynix in production and share price.
“the catch-up that Samsung is doing”
Listen at 1:26
Samsung is narrowing its production and share-price gap with Hynix.
“It's closing the gap with Hynix in production and in share prices.”
Listen at 1:30
Samsung’s gains may signal a new KOSPI leadership trend.
“that might be a new trend in the leadership of the KOSPI index”
Listen at 1:34
SanDisk’s gains lifted Taiwanese peers Nanya Tech and Winbond.
“SanDisk was up very strongly and that's taken peer plays in Taiwan like Nanya Tech and Winbond up strongly as well.”
Listen at 1:46
Korean construction companies benefit from AI, Gulf, and nuclear infrastructure projects.
“they have the AI buildout at home, they have their construction business in the Gulf, and to power all these data centers, they've been busy building nuclear reactors and such.”
Listen at 2:10
Project uncertainty is weakening Korean construction stocks.
“the uncertainty is taking some shine off these stocks.”
Listen at 2:46
Doosan Inability shares fell 6%.
“Doosan Inability down 6%.”
Listen at 2:54
Daewoo Construction and Hyundai Construction shares each fell 8%.
“Daewoo Construction down 8%, Hyundai Construction down 8%.”
Listen at 2:56
Korean construction stocks have been among the year’s major winners.
“It's one of the big winners in the year.”
Listen at 3:03
Domestic themes dominate India because India lacks a substantial AI investment play.
“local themes have been dominating as India does not have much of an AI play.”
Listen at 4:03
Indian mid-caps outperform larger listed companies as growth broadens geographically.
“the mid-cap spaces outperform the bigger listed companies as the geographic breadth of the country's economic growth expands.”
Listen at 4:20
Esses Retail rose 47% and Jindal Supreme rose 35%.
“You're seeing Esses Retail up 47% and Jindal Supreme is up 35%.”
Listen at 4:30
The Indian IPO gains are genuinely strong.
“these are legitimately strong IPO gains.”
Listen at 4:41
Potential blockbuster Tata Group-related listings may come to India.
“we have some blockbuster IPOs potentially, blockbuster listings potentially coming in India from all the changes at the Tata Group.”
Listen at 4:53
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Featuring
Anthony Stevens
SanDisk
Korea Composite Stock Price Index (KOSPI)
AsiaListen to the full episode and explore every guest, topic, and moment on PodLume.