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Direxion's new 2X SK Hynix ETF taps rising interest in AI infrastructure, with head executive highlighting SKHY's key role in the memory-chip market.
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With September historically being the worst month for stocks and midterm election years amplifying market pullbacks, the article recommends two memory stocks—Micron Technology and Sandisk—as potential buying opportunities on a dip. Both companies are benefiting from AI infrastructure demand for memory chips and are trading at low valuations despite strong growth prospects.
SK Hynix and Intel are exploring U.S. memory chip production as demand for DRAM and high-bandwidth memory surges. Here are the ETFs to watch.
SK Hynix is expanding its U.S. AI memory footprint, following Samsung’s manufacturing precedent as HBM demand accelerates.
Netlist (NLST) reported exceptional Q2 2026 results with revenue surging 163% to $109.8M and gross profit jumping 1,544% to $22.9M, driven by strong DRAM resale demand and constrained supply. The company's Lightning product line gained market traction, and management expects Q3 product revenue to remain near Q2 levels. Competitors SanDisk and Micron are also benefiting from AI-driven demand for memory and storage products.
The Federal Reserve raised interest rates by 25 basis points to 3.50%-3.75%, marking the first hike in three years. Major indices declined with the S&P 500 falling 0.45%, Dow Jones dropping 1.21%, and Nasdaq slipping 0.01%. AI stocks recovered slightly with Dell, Intel, and Nvidia finishing in the green. Traders are pricing in potential further rate hikes, which typically pressure equities in the short term but historically lead to gains within a year.
Nvidia agreed to acquire Hugging Face for $11.9 billion ($12.9 billion including employee awards), a steep price at 86x annualized revenue. However, the acquisition gives Nvidia strategic access to a platform hosting 3 million models used by 18 million developers and 200,000+ companies. As AI chip competition intensifies from Meta, Microsoft, and others, Hugging Face provides Nvidia a way to remain relevant in the AI ecosystem beyond just selling GPUs. The key to success is maintaining the platform's openness across different hardware and frameworks to preserve developer loyalty.