According to CNBC, South Korea's SK Hynix and Samsung Electronics surged more than 20% in Seoul on Friday, while LG Innotek advanced 11.2% and Seoul Semiconductor rose 7.8%, as chip stocks tracked a sharp rally in U.S. technology shares after strong earnings from Amazon and Microsoft. The rebound reversed part of this week's sell-off, which had hit semiconductor names on concerns over high AI valuations and rising competition from Chinese memory chipmakers. The iShares Semiconductor ETF (SOXX) climbed more than 8% overnight after investors returned to AI-linked chipmakers on stronger-than-expected cloud results from the two U.S. companies. Amazon gained more than 9% in extended trading after second-quarter revenue topped analysts' estimates, driven by strength in its cloud business, while Microsoft rose 16% during Thursday's regular session after faster-than-expected Azure cloud growth.