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HomeMarket NewsSK Hynix joins Micron in the $1 trillion market cap club after 2026 gains extend to 230%
SK Hynix has emerged as a key supplier to Nvidia, currently the most valuable company in the world, becoming the cornerstone of the global AI supply chain.
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South Korean chip manufacturer SK Hynix saw its stock price surge another 11% on Wednesday, May 27, thereby taking its market capitalization past the mark of $1 trillion.
Investors continue to pile into the AI theme and the stocks which contribute to the infrastructure required in building it out. SK Hynix belongs to the latter category. The surging demand for high-bandwidth memory chips used in AI servers and accelerators has led to the stock price surging 250% so far this year in just the first five months.
SK Hynix has emerged as a key supplier to Nvidia, currently the most valuable company in the world, becoming the cornerstone of the global AI supply chain.
This feat achieved by SK Hynix comes just a week after domestic rival Samsung Electronics crossed this milestone.
Earlier this year, SK Hynix had announced plans to establish a US-based AI solutions unit and to commit to at least $10 billion in investment.
Shares of SK Hynix are now trading with gains of 9% on Wednesday. Together with Samsung, the stock has taken the Korean benchmark KOSPI to record high levels. The KOSPI index itself is up 94% this year.
SK Hynix's achievement comes just hours after its US-based chipmaking peer Micron crossed the $1 trillion market capitalisation mark after a 19% surge overnight. You can read more on that here.
