KOSPI reclaims 7,000 level as Alphabet lifts AI optimism

South Korea's KOSPI surged 4.40% to close at 7,096.89 on Thursday, reclaiming the 7,000 level for the first time in five sessions, after Alphabet raised its 2026 capital expenditure guidance to $195 billion-$205 billion, reigniting AI optimism. Samsung Securities analyst Kim Joong-han said the higher spending forecast showed concerns over a slowdown in AI investment were overdone.

KOSPI surged back above the 7,000 level after five trading sessions on Thursday as Alphabet’s stronger-than-expected capital spending outlook reignited optimism over the artificial intelligence AI boom. The Kosdaq also jumped sharply, triggering a temporary halt on program buying orders. The benchmark KOSPI opened 2.44 percent higher at 6,963.35, up 165.65 points from the previous session, and ended at 7,096.89, gaining 299.19 points, or 4.40 percent. The rally followed Alphabet, Google’s parent company, raising its 2026 capital expenditures CAPEX guidance, a move that eased concerns over a slowdown in AI-related investment momentum. “Alphabet lifted its 2026 CAPEX forecast to $195 billion-$205 billion from $180 billion-$190 billion,” said Kim Joong-han, an analyst at Samsung Securities. “The higher spending guidance showed that concerns over a slowdown in the AI cycle and capital expenditure were overdone.” He added that enterprise demand momentum is likely to strengthen further in the second half. Amid renewed AI optimism, shares of Samsung Electronics and SK hynix, the c