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SK Hynix joins trillion-dollar club as AI fires up East Asian stocks

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South Korea’s SK Hynix became just the third Asian company to join the $1 trillion club as a breakneck surge in memory-chip stocks and an AI frenzy reshapes economies worldwide. (Source: Bloomberg)

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Shares of SK Hynix soared over 11% on Wednesday, pushing the South Korean memory-chip maker above the $1 trillion market capitalization mark.

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The breakneck surge in memory-chip stocks is intensifying, sending the market capitalizations of SK Hynix Inc. and Micron Technology Inc. above $1 trillion for the first time, as investors bet the AI boom will lead to a sustained revaluation of the industry.