Nvidia supplier SK hynix becomes Asia’s latest US$1t tech giant

South Korea’s SK hynix became Asia’s third trillion-dollar tech company on May 27, with its market value exceeding US$1 trillion amid explosive global demand for AI-powered computing hardware. The surge follows Samsung Electronics’ recent entry into the trillion-dollar club, fueled by the same AI-driven semiconductor boom. SK hynix supplies Nvidia with advanced high-bandwidth memory, a critical component for AI data centers, and its shares jumped over 11% in early trading. The company’s valuation leap reflects a broader industry trend, as governments and tech firms invest hundreds of billions in AI infrastructure requiring massive data-processing chips. SK hynix reported a near-400% first-quarter profit spike in April, defying concerns over potential semiconductor industry disruptions from the Middle East conflict. Meanwhile, Samsung’s union approved a deal granting roughly 78,000 employees bonuses of about US$370,000 each, though SK hynix workers reportedly received larger payouts last year. The AI boom has elevated the prestige of chip engineers in South Korea, with SK hynix’s logo jacket viral as a status symbol and the company’s employees now ranking highly in matchmaking desirability indices. Bloomberg noted SK hynix joins Samsung and Taiwan’s TSMC as the only Asian firms valued at over US$1 trillion, underscoring the region’s dominance in semiconductor manufacturing. Analysts attribute the surge to AI’s insatiable appetite for memory chips, driving up demand for SK hynix’s products. The company’s financial performance has outpaced expectations, with net profits soaring despite broader economic uncertainties. The trend highlights how AI infrastructure is reshaping global tech markets, benefiting memory chipmakers like SK hynix at an unprecedented scale.