The SK hynix logo was prominently displayed on a glass wall at the 2026 World IT Show held in Seoul on April 22, 2026.
Image Credit: Jung Yeon-je | AFP | Getty Images
On Wednesday, SK Hynix shares surged as much as 11%, pushing the South Korean chipmaker’s market value past the $1 trillion mark. This rise came as investors eagerly invested in semiconductor stocks linked to artificial intelligence.
This rally extends an impressive upward trend, with SK Hynix shares soaring approximately 250% since the beginning of the year. This growth is driven by increased demand for high-bandwidth memory chips, essential for AI servers and accelerators.
The company has solidified its status as a key supplier for Nvidia, the AI chip giant, strengthening its role in the global AI supply chain.
Ultimately, SK Hynix shares finished the day with a 9.21% increase, while Samsung Electronics also saw gains, ending up 2.68%.
The rally comes just weeks after domestic rival Samsung Electronics also crossed the $1 trillion market capitalization mark.
The two chipmakers account for more than 40% of South Korea’s benchmark Kospi, underscoring how closely the index’s performance has become tied to global demand for AI-related semiconductors and memory chips.
The Kospi index has nearly doubled since the start of the year, according to data from LSEG.
Analysts have warned that the concentration could heighten market volatility and leave the benchmark more exposed to risks, including supply chain disruptions and a slowdown in global data center investment.
SK Hynix’s rally may still have room to run, according to Peter Kim, global investment strategist at KB Financial Group. He highlighted that earnings upgrades are outpacing even the stock’s meteoric gains.
“Fundamentals and valuations of the two twin towers … are still very much intact,” Kim said, referring to SK Hynix and Samsung Electronics.
He said that SK Hynix’s valuation has become “cheaper” as analysts have raised earnings forecasts faster than share prices have increased.
