SK hynix beats Samsung Electronics in market cap for 1st time
Seoul, June 22
Chip major SK hynix has surpassed Samsung Electronics in terms of market capitalisation for the first time, the bourse operator said on Monday.
The market capitalisation of SK hynix reached 2,091 trillion won ($1,358 billion) at 12:42 p.m., surpassing Samsung Electronics' 2,090 trillion won, according to the Korea Exchange (KRX), reports Yonhap news agency.
It marked the first time that Samsung Electronics has given up its throne on the benchmark Korea Composite Stock Price Index (KOSPI) since steadfastly remaining at the top since 2000. It first ranked No. 1 in terms of market capitalisation in 1999.
Shares of SK hynix rose 6.15 percent to 2,934,000 won, while Samsung Electronics moved up 0.99 percent to 357,500 won.
Meanwhile, SK hynix said last week it has begun shipping samples of its latest high-bandwidth memory (HBM) chip, the 12-layer HBM4E, to major global customers, marking another step in the race to supply next-generation memory for artificial intelligence (AI) applications.
"The company was able to deliver samples of the 12-stack HBM4E on schedule thanks to its advanced HBM development and production expertise for HBM," SK hynix said. "We will work closely with partners for mass production in a timely manner," it added.
The 12-layer HBM4E delivers improvements in both performance and power efficiency, according to the company. It offers more than 20 percent greater power efficiency than the previous memory model.
The enhancements are expected to improve data processing capabilities for AI training and inference workloads.
"SK hynix has laid the foundation to strengthen its AI leadership with HBM4E based on its market-leading technological capabilities and manufacturing expertise," Ahn Hyun, president and chief development officer, said in a statement. "Through close collaboration with our partners, we will deliver the value needed in the market while reinforcing our technology leadership as a full-stack AI memory creator."
SK hynix's customers include major AI companies, such as Advanced Micro Devices Inc., Nvidia Corp. and Google.
— IANS
Reader Comments
As someone working in tech, this doesn't surprise me. The race for AI memory is intense and SK hynix has been aggressively innovating. Samsung's dominance was bound to be challenged eventually. But let's not write them off yet - they're still a massive conglomerate with deep pockets.
Good for SK hynix! It's inspiring to see a company that was once a underdog now leading in AI memory. Their focus on power efficiency (20% better!) is crucial for data centers. India should take notes - we need more R&D in semiconductor design and manufacturing. Chalo, time for our tech industry to step up! 🇮🇳
While this is a big symbolic shift, let's keep perspective - Samsung Electronics is still worth $2.09 trillion won. SK hynix just edged ahead by 1 trillion won. These Korean chaebols are both giants. The real story is how AI demand is creating new winners in the chip space. For investors, diversifying across memory stocks might make sense.
I wonder how long this will last. Samsung has a huge portfolio beyond memory - smartphones, displays, foundry services. SK hynix is more focused on memory, which makes them vulnerable if the AI bubble bursts. But for now, they're riding the wave perfectly with their HBM technology. Interesting times.
This is a big moment for SK hynix, but I hope Samsung bounces back. Healthy competition is good for consumers and innovation. Also, seeing Google and Nvidia being customers shows how interconnected tech giants
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