SK hynix Inc., a major chip supplier for Nvidia Corp., saw its stock price decline by over 11% following the Lunar New Year holiday.

This drop occurred after reports emerged that DeepSeek, a Chinese AI startup, launched a new AI model that is more advanced and cost-effective than expected, impacting global semiconductor markets.

Despite recent volatility, SK hynix stock remains up 15% in 2024, contributing to Kospi’s recovery.