SK Hynix, Micron Hit $1 Trillion Market Cap on AI Memory Demand

South Korea's SK Hynix surged 13% in Seoul trading Wednesday, pushing its market capitalization above $1 trillion for the first time. The milestone came a day after Micron Technology soared 19% on Wall Street, crossing the same mark.

Both firms dominate high-bandwidth memory (HBM) production, the specialized chips essential for AI accelerators and data center servers. SK Hynix, a key supplier to Nvidia, has already sold out its entire 2026 HBM capacity.

SK Hynix shares are up about 250% since the start of the year; Micron has jumped roughly 190% in 2026. SK Hynix is now the second South Korean company to enter the trillion-dollar club, following Samsung Electronics.

SK Hynix has filed with the SEC to list American Depositary Receipts (ADRs) in the U.S., aiming to raise billions for its Yongin HBM production hub in South Korea and its packaging facility in Indiana.