SK Ethernics Stock Surges 114.57% in One Month Amid AI Data Center Power Demand Surge

SK-3.81%
According to Korea Exchange, SK Ethernics stock closed at 80,900 Korean won on June 24, up 114.57% from 37,750 won one month prior, significantly outpacing the KOSPI's 20.9% decline over the same period. The renewable energy company's gains accelerated recently, rising 44.90% over five trading days through June 24, driven by institutional and foreign investor net purchases of 106.8 billion won and 79 billion won respectively. The stock has also breached brokerage target prices, surpassing Hana Securities' June 16 target of 66,000 won, previously the highest on Wall Street. Analysts attribute the surge to anticipated power demand expansion from AI data centers, positioning renewable energy firms as key beneficiaries. South Korea's government unveiled mega infrastructure projects in June targeting 39.7 GW of additional power capacity through semiconductor clusters and AI data centers, with plans to expand renewable energy to 100 GW by 2030.
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