AI Boom Propels SK Hynix and Micron Past $1 Trillion Market Capitalization

Seoul. The semiconductor industry has seen a big boom with the rapid expansion of artificial intelligence (AI) data centers. With the increase in chip demand, chip manufacturing companies SK Hynix and Micron have reached the list of companies with a market capitalization of $1 trillion for the first time.

On Wednesday, South Korean company SK Hynix's share price increased by 10 percent. Since the beginning of this year, the company's share price has more than tripled. SK Hynix is a significant supplier to Nvidia, a leader in AI chip manufacturing. US memory chip maker Micron Technology's shares rose by approximately 20 percent on Tuesday. Micron's shares saw a sharp increase after investment bank UBS tripled its target for the company's share price.