The company, South Korea’s second-most valuable listed firm after Samsung, has seen its shares surge more than sevenfold over the past year as soaring demand for AI memory chips triggered a global supply crunch. The rally has lifted its market capitalisation to around $1 trillion, making it one of the world’s most valuable semiconductor companies.
While SK Hynix may not be a household name among consumers, its memory chips are widely used in devices sold by companies including Apple and Dell. Alongside Samsung and Micron, it is one of the three dominant players in the global DRAM memory market.The company’s rise has been fuelled by explosive demand for HBM chips, with Nvidia—its largest customer—relying heavily on SK Hynix’s advanced memory products. In June, Nvidia CEO Jensen Huang visited Seoul, where the two companies announced a multi-year partnership to deepen collaboration on next-generation AI memory technologies.
The Nasdaq listing also aligns with SK Hynix’s growing manufacturing footprint in the United States. The company is investing $4 billion in an advanced chip packaging and production facility in Indiana while expanding operations of its Solidigm business near Sacramento, California. It is also expected to receive up to $458 million in funding under the US CHIPS and Science Act, alongside potential loans of up to $570 million from the US Commerce Department.
Despite its sharp rally, SK Hynix continues to trade at a valuation discount to several global semiconductor peers. The Nasdaq listing is expected to broaden its investor base and provide direct access to the world’s deepest capital market as demand for AI infrastructure continues to reshape the semiconductor industry.
The company’s financial performance has mirrored the AI boom. Annual revenue nearly tripled between 2023 and 2025 to around $65 billion, while analysts polled by LSEG expect sales to climb to roughly $235 billion in 2026, underscoring expectations of sustained demand for AI memory chips.
