Why Is SK TELECOM CO LTD ADR (SKM) Stock Up Today?

Why SKM stock is up today

SKM surged 7.77% to $34.44 in early trading as attention turned to SK Telecom's reported investment in data center infrastructure. The stock opened with a 7.4% gap up from the previous close and traded in a volatile range throughout the session. The move follows a Seeking Alpha report highlighting the company's KKR investment and its ambitious AI data center plans.

What Happened

SK Telecom's AIDC (Artificial Intelligence Data Center) revenues rose 89% year-over-year in the first quarter of 2026. The company is planning to expand its Ulsan AI data center to 5 gigawatts by 2029, with a total capacity of 15 gigawatts. This aligns with South Korea's AI G3 strategy and positions SK Telecom as a major player in the AI infrastructure space. The Seeking Alpha article emphasized these developments as a catalyst for the stock's upward movement, suggesting a "Buy" rating based on the company's growth trajectory.

What The Data Shows

The stock opened at $34.30 and reached a session high of $34.64 shortly after the market opened. It later pulled back to a low of $33.05 before settling near $34.17. Trading volume was 0.2 million shares, which is 0.1 times the 3-month average. The stock is currently trading within its 52-week range of $19.66 to $47.18. Despite a trailing twelve-month revenue decline of 4.9%, SK Telecom maintains a 2.2% net margin and a 3.11% dividend yield. The company is also set to pay a dividend of $0.239276 per share on May 29, 2026.

What To Watch

Investors should monitor SK Telecom's upcoming earnings report for further insight into the company's performance. Additionally, the breadth of coverage and market reaction to its AI data center expansion will be key indicators of future momentum.