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SK Hynix dethrones Samsung Electronics as South Korea's most valuable company
Synopsis
South Korean chipmaker SK Hynix has briefly surpassed Samsung Electronics to become the nation's most valuable company. This surge, driven by booming demand for memory chips fuelled by AI data centre construction, has seen SK Hynix shares skyrocket over 340% this year. Both companies have benefited immensely from the AI revolution, with SK Hynix now recognised as the world's leading memory chip producer.
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The market value of South Korean chipmaker SK Hynix briefly topped that of peer Samsung Electronics on Monday to make it the country's most valuable firm.
Shares of SK Hynix, now the world's most valuable memory chipmaker, traded up 5.7% to bring the company's market capitalisation to 2,082.5 trillion won ($1.35 trillion) as of 0347 GMT, compared with gains of 0.4% in Samsung Electronics to 2081.3 trillion won, excluding preferred shares.
Samsung Electronics had held the top spot since 2000.
South Korean chipmakers have posted record profits, benefiting from the rush to build AI data centres by U.S. tech giants that have boosted demand for memory chips, constrained supply and driven up prices.
SK Hynix shares have risen more than 340% this year alone, outperforming Samsung's 200% jump.
In May, SK Hynix joined rivals Samsung Electronics and Micron Technology in topping $1 trillion in market value for the first time, driven by the AI rally.
Shares of SK Hynix, now the world's most valuable memory chipmaker, traded up 5.7% to bring the company's market capitalisation to 2,082.5 trillion won ($1.35 trillion) as of 0347 GMT, compared with gains of 0.4% in Samsung Electronics to 2081.3 trillion won, excluding preferred shares.
Samsung Electronics had held the top spot since 2000.
South Korean chipmakers have posted record profits, benefiting from the rush to build AI data centres by U.S. tech giants that have boosted demand for memory chips, constrained supply and driven up prices.
SK Hynix shares have risen more than 340% this year alone, outperforming Samsung's 200% jump.
In May, SK Hynix joined rivals Samsung Electronics and Micron Technology in topping $1 trillion in market value for the first time, driven by the AI rally.
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