The SK Hynix logo is seen above a printed circuit board.
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Shares of SK Hynix jumped more than 11% on Wednesday, lifting the South Korean chipmaker’s market capitalization above $1 trillion as investors continued to pile into artificial intelligence-linked semiconductor stocks.
The rally extended a blistering run that has already seen SK Hynix shares skyrocket about 250% since the start of the year, fueled by surging demand for high-bandwidth memory chips used in AI servers and accelerators.
The company has emerged as a key supplier to AI chip giant Nvidia, cementing its position at the center of the global AI supply chain.
The rally in SK Hynix comes just weeks after its domestic rival, Samsung Electronics, also crossed the $1 trillion market capitalization mark.
Back in January, SK Hynix announced plans to establish a U.S.-based AI solutions unit and to commit at least $10 billion in investment.
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