Samsung Electronics and SK Hynix signed a combined $950 billion in artificial intelligence (AI) chip supply deals with Nvidia and Broadcom over the weekend.

Both stocks still fell in Monday trading, a disconnect that shows how much of the AI rally already sits in the price.

A Massive AI Infrastructure Deal

SK Hynix will supply $750 billion in memory chips to Nvidia and other US companies over several years. Nvidia put its own portion of that deal at $500 billion. The agreement covers new data centers targeted for 2027, and SK Hynix affiliate SK Telecom will build a cloud business on Nvidia’s Vera Rubin systems.

Nvidia enterprise vice president Raj Mirpuri said the deal secures a stable supply of high-bandwidth memory (HBM), the specialized chips that power AI processors and graphics cards.

Samsung separately signed a memorandum of understanding worth an estimated $200 billion with Broadcom. The agreement expands their memory and foundry collaboration, the companies said in statements Friday.

Is the AI Boom Already Priced In?

Despite the scale of the announcements, SK Hynix shares traded at 1,752,000 won Monday morning, down a little from Friday’s close, but also down 11.38% over five sessions. Samsung fell 0.50% to 248,500 won, extending its own 10.05% five-day slide. Nvidia closed down 0.92% at $206.84 in Friday’s session before edging higher in overnight trading.

The muted reaction fits a recent pattern. SK Hynix shares have slid even on positive news this month. US investors already pay a premium for its shares compared with Seoul, a gap that opened after its blockbuster Nasdaq listing earlier in July.

Both stocks are up sharply this year on AI demand, so traders appear to be booking profits rather than chasing another AI headline, regardless of the deal size.

The bigger test comes later this week. Samsung and SK Hynix report quarterly earnings that will show whether soaring chip orders are converting into profit. That result will tell investors whether this month’s record deal flow deserves a second look, or whether it is already old news.

Source: BeInCrypto