SK Hynix Tops $100 Billion in Market Value on AI-Powered Rally
Apr 01, 2024 - bloomberg.com
SK Hynix Inc., a key provider of artificial intelligence technology, has achieved a market capitalization of over $100 billion due to increased investor interest. The company's share price has more than doubled in the past year due to the rising demand for its high-bandwidth memory, which is used with Nvidia Corp.'s AI processors.
With a market share of over 90% in the latest version of high-bandwidth memory (HBM), SK Hynix has become the second-largest company in South Korea. The surge in the company's value is largely attributed to the growing demand for artificial intelligence technology.
Key takeaways:
SK Hynix Inc. has reached a market capitalization of over $100 billion.
Investors are heavily investing in companies that are key providers of artificial intelligence technology.
The chipmaker's share price has more than doubled over the past year due to high demand for its high-bandwidth memory.
SK Hynix has over 90% market share in the latest version of HBM, making it the second-largest company in South Korea.
