SK Hynix Inc on Wednesday crossed the $1 trillion market capitalization threshold after its stock climbed sharply amid sustained optimism about artificial intelligence-related demand.
The company's shares rose as much as 11% to an intraday record of 2.28 million won, equivalent to $1,514.38, pushing SK Hynix's market capitalization to 1,624 trillion won, or $1.08 trillion.
This marks SK Hynix as the second South Korean firm to reach a trillion-dollar valuation, following Samsung Electronics Co Ltd. The milestone also makes SK Hynix the third Asian company to pass the $1 trillion mark, joining Samsung and Taiwan Semiconductor Manufacturing Co (TSMC), which retains the region's largest market value at over $2 trillion.
Industry momentum has been broad: rival Micron Technology Inc reached a $1 trillion valuation on Tuesday, adding to the wave of gains among memory chip manufacturers.
Market observers point to an accelerated rise in demand for memory used in AI applications as the immediate driver of the sector's gains. That surge in demand has put pressure on memory supplies, helped push up prices and delivered outsized benefits to major producers such as SK Hynix and Samsung.
Both companies are among the limited number of manufacturers producing advanced high-bandwidth memory, a component cited as key for AI processors. The two firms also hold supply contracts with Nvidia, a major supplier of AI hardware.
On a performance basis, SK Hynix's shares have climbed about 235% so far in 2026, following a more than 200% advance in 2025.
Wednesday's rallies extended beyond SK Hynix. Samsung shares also rose, contributing to a gain in South Korea's KOSPI index of more than 4% and sending the benchmark to a record high.
Market implications
The run-up underscores the concentrated nature of supply for advanced memory products and how quickly sector valuations can shift when demand from AI accelerates. For investors and market participants, the developments have moved several major chip makers into the trillion-dollar valuation range within days of one another.
Data and performance highlights included in this report - SK Hynix's intraday high of 2.28 million won ($1,514.38); market capitalization of 1,624 trillion won ($1.08 trillion); SK Hynix shares up roughly 235% so far in 2026 after more than 200% gains in 2025; Micron's $1 trillion valuation announcement; TSMC remaining Asia's most valuable company at over $2 trillion; KOSPI rising over 4% to a record high.