- SK Hynix became South Korea‘s most valuable listed company on June 22, 2026, with a market cap of $1.35 trillion.
- The company’s surge is driven by dominance in the high-bandwidth memory (HBM) chip market, holding about 61% share to supply AI firms like NVIDIA and Alphabet.
- HBM chips have become a core, non-interchangeable component for AI systems, fundamentally changing the industry’s economics.
- Despite its lead, analysts warn of risks from an AI stock bubble, with diversified competitors like Samsung potentially better positioned for a downturn.
On Monday, June 22, 2026, SK Hynix overtook Samsung Electronics to become the most valuable listed company in South Korea, achieving a market capitalization of $1.35 trillion. This historic shift was fueled by massive demand for its high-bandwidth memory chips from AI chip manufacturers.
Consequently, SK Hynix now dominates the AI memory sector with an estimated 61% of the HBM market. The company’s share price has skyrocketed by more than 340% in 2026 alone, marking a dramatic turnaround from its near-bankruptcy in 2002.
Analyst Kim Sunwoo from Meritz Securities stated, “The emergence of customized AI memory fundamentally changed the industry’ job outlook and allowed SK Hynix to establish itself as the market leader.” SK Group Chairman Chey Tae-won emphasized that HBM is now a core component, not an interchangeable commodity.
However, competition from Samsung and Micron remains fierce within the sector’s “big three.” Meanwhile, some believe the industry may be experiencing an AI stock bubble similar to the dot-com era.
Consequently, a diversified giant like Samsung might be better insulated against a potential crash. SK Hynix‘s focused strategy on memory chips carries inherent market risks despite its current leadership.
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