SK Hynix Surges Past $400B Market Cap on Microsoft AI Chip Deal
SK Hynix shares rallied 8.7% on the Korea Exchange, pushing its market value above $400 billion. The surge followed news of supplying HBM3E memory for Microsoft's new Maia 200 AI accelerators. Analysts attribute the momentum to growing AI demand and recovering memory chip prices.
Microsoft's Maia 200, manufactured by TSMC, reportedly outperforms competitors by 30%. This marks SK Hynix's second major AI win after its Nvidia supply deal. The stock has multiplied tenfold since 2021 amid the AI boom.
Citigroup raised its price target to a street-high 1.4 million won, citing 'dip buying and rising HBM earnings expectations.' Memory chip price recovery may further boost Thursday's earnings report.