Close June 22 trade, SK Hynix (South Korea) memory chip stock rise 5.6% to 2.9 million won. Market cap reach 2.08 quadrillion won ($1.35 trillion). Samsung Electronics stock drop 0.14%. Market cap fall to 2.06 quadrillion won, exclude preferred shares.
SK Hynix pass rival. Become most valuable listed company in South Korea. Samsung hold spot since 2000.
SK Hynix logo at factory in Icheon, South Korea, April 23. Photo: Reuters
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SK Hynix stock up over 340% this year. Big winner from global AI boom. Main supplier of high bandwidth memory (HBM) for AI systems of Nvidia, Google.
AI change global chip landscape. Turn memory chips from basic goods to key parts for ChatGPT, other AI models. SK Hynix focus on memory. Samsung also make logic chips, consumer tech like phones, TVs.
"Custom AI chips change industry economics. Help SK Hynix take lead," Kim Sunwoo, senior analyst at Meritz Securities, say.
Samsung Electronics say market cap 2.24 quadrillion won if include preferred shares. Still, SK Hynix rise is historic comeback in South Korea business history.
In 2002, Hynix Semiconductor (predecessor of SK Hynix) almost sold to Micron due to huge debt from fast expansion. Deal fail. Company stay under creditor control for decade.
In 2003, Hynix stock crash to 135 won. For years, earnings depend on memory chip boom-bust cycles.
Two years ago, chip price crash cause 7.73 trillion won operating loss for SK Hynix. Recover one year later from AI wave, tech giant investments. SK Hynix post record 23.5 trillion won operating profit in 2024.
Analysts say SK Hynix benefit from HBM investment during downturn. By 2025, SK Hynix hold 61% global HBM market share. Samsung has 17%, Micron 21%.