South Korea’s equity market has overtaken India’s as the world’s sixth largest, driven by a relentless surge in chip heavyweights powering the global artificial intelligence buildout.

LG Electronics Inc. shares have quadrupled this year as investors applaud the venerable Korean appliance maker’s shift into robotics.

A top-performing technology fund plans to own SK Hynix Inc.’s shares, betting that tighter supply will further benefit the South Korean AI memory chipmaker after a 1,000% rally in the past year.