Hudbay Minerals Inc

Memory chip stocks fell more than Nvidia, with Micron, Sandisk, and Western Digital leading declines, as investors question AI spending ahead of Micron earnings.

Hudbay Minerals shares surged nearly 9% in Toronto on Monday, leading a mining rally as the TSX Composite Index hit a new record high, buoyed by rising copper prices and U.S.-Iran peace talks.

Global tech giants are offering to finance SK hynix's new fabs and equipment to lock in high-bandwidth memory supply, as AI-driven demand pushes capacity to zero and prices double.