SK Hynix (000660) Hits $1 Trillion Valuation as Shares Surge 11%

AI Summary

On Wednesday, SK Hynix (000660) shares rose as much as 11%, boosting its market capitalization past $1 trillion amid strong investor interest in AI-linked semiconductor stocks. The company’s stock has increased approximately 250% since the start of the year, driven by rising demand for high-bandwidth memory chips. SK Hynix's position is further solidified as a key supplier to Nvidia, reinforcing its role in the global AI supply chain. The performance of SK Hynix and rival Samsung Electronics, which also surpassed a $1 trillion valuation, heavily influences South Korea's Kospi index, which has nearly doubled in 2023.