SK hynix hits $100 billion market cap

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.

While rival Samsung Electronics Co. remains larger, with a market value of over $360 billion, it has lagged SK Hynix in developing memory chips for AI. Samsung’s shares have risen 31% in the past year. Bloomberg