AI News Brief: SK Hynix reported earnings on Wednesday, with April–June net profit surging more than 13× year-over-year and operating margin reaching 76%, setting single-quarter records for revenue, operating profit, and net profit—stellar on paper. Yet the stock dipped after the release because operating profit still missed the analyst consensus, signaling that the market’s bar for AI chip stocks has clearly risen. SK Hynix rebounded strongly on Friday, but its market cap hasn’t reclaimed the $1 trillion threshold. Two months ago, fueled by aggressive US tech capex and the bet that AI is a long-term growth story, TSMC, Samsung Electronics, and SK Hynix all rallied, with market caps successively breaking $1 trillion—an Asian corporate milestone. Now the mood has shifted: investors who two months ago were scrambling for reasons to keep buying are now noticeably cautious, even as chip executives insist AI capex is a multi-year commitment. The article argues AI innovation rivals or even surpasses the internet in importance, but the current boom carries bubble-like risks reminiscent of the early-2000s dot-com era. The biggest difference: this rally is anchored in Asian tech companies, and a large number of Asian investors (including many retail players) have piled significant capital into related stocks—so if prices swing sharply, these same investors who benefited from the rally will be the first to take the hit.