South Korean memory chipmaker SK Hynix overtook Samsung Electronics in market value on June 22. SK Hynix shares rose 5.7%, while Samsung shares rose 0.4%. Samsung had held the top spot since 2000.

The shift reflects investor focus on high-bandwidth memory, or HBM, chips. These chips provide higher data throughput and efficiency than conventional dynamic random-access memory, or DRAM. They are also essential for AI accelerators used to train and run AI models.

That has favored SK Hynix, the dominant supplier of HBM chips to AI customers including Nvidia and Google. Samsung also competes in HBM, but SK Hynix has emerged as a leading beneficiary of the AI boom.

The crossover marks a turnaround for SK Hynix, from a 7.7 trillion won (US$5.02 billion) operating loss in 2023. The company bounced back to a record 23.5 trillion won (US$15.3 billion) operating profit in 2024 as AI spending increased.

🔗 Source: Reuters

Recent SK Hynix developments