SK Hynix Tops $100 Billion in Market Value on AI-Powered Rally

Key Nvidia supplier’s shares have doubled in the past year
South Korea’s second-largest stock has outpaced No. 1 Samsung

Attendees on a magic carpet ride at the SK booth during the 2024 CES event in Las Vegas in January.Photographer: Bridget Bennett/Bloomberg

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By Youkyung Lee

April 1, 2024 at 12:08 AM UTC

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SK Hynix Inc. reached a market capitalization of over $100 billion, as investors continue to pour cash into shares of companies seen as key providers of artificial intelligence technology.

The chipmaker’s share price has more than doubled over the past year amid surging demand for its high-bandwidth memory, which works in tandem with Nvidia Corp.’s AI processors. That’s made SK Hynix — which analysts say has a market share of over 90% in the latest version of HBM — the second-biggest company in South Korea.