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Chipmakers SK Hynix and Micron join $1tn club on surging AI demand
Key takeaways
- The stock market valuations of chipmakers SK Hynix and Micron have risen above the $1tn (£740bn) mark, driven by a boom in artificial intelligence (AI) data centres.
- Shares in South Korea's SK Hynix, a key supplier to AI chip giant Nvidia, jumped by 10% on Wednesday, continuing a rally that has seen its share price more than triple since the start of this year.
- On Tuesday, US memory chipmaker Micron's shares rose by almost 20% after investment bank UBS tripled its stock price target for the company.
Osmond Chia Business reporter Reuters. The stock market valuations of chipmakers SK Hynix and Micron have risen above the $1tn (£740bn) mark, driven by a boom in artificial intelligence (AI) data centres.
Shares in South Korea's SK Hynix, a key supplier to AI chip giant Nvidia, jumped by 10% on Wednesday, continuing a rally that has seen its share price more than triple since the start of this year.
On Tuesday, US memory chipmaker Micron's shares rose by almost 20% after investment bank UBS tripled its stock price target for the company.
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