South Korea’s SK Hynix has become the second South Korean company in history to achieve a market valuation of at least $1 trillion, driven by the high demand for semiconductors used in AI. The world’s second-largest memory chip maker saw its share price surge 240 percent since the beginning of the year, with an 80 percent increase this month alone. SK Hynix’s market capitalization reached 1.66 quadrillion won ($1.10 trillion) on Friday, following a five-fold increase in operating profit and a three-fold increase in revenue in the first quarter of this year.
Why It Matters
SK Hynix’s milestone highlights the explosive growth in the AI industry and the increasing importance of semiconductors in technology. The company’s achievement reflects the broader rally in South Korea’s stock market and the global shortage of DRAM and NAND memory chips. As one of the few non-US companies to reach a $1 trillion market valuation, SK Hynix’s success underscores the growing influence of Asian tech giants in the global economy.
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