AI Memory Chip Stocks Soar as SK hynix, Micron Both Overtake Bitcoin in Market Value

The expansion of generative AI is fueling data-center construction and demand for memory chips including HBM and DRAM. Tight supplies have also put Micron Technology in the spotlight as a key part of the AI supply chain. Wall Street has even dubbed Micron “the next Nvidia,” reflecting expectations that memory-chip makers will benefit from spending on AI infrastructure.

According to reports as of July 20, 2026, Micron’s market capitalization surpassed $900 billion for the first time and briefly overtook Meta and Tesla in intraday trading. Labor talks at Samsung Electronics broke down during the same period, raising the risk of a strike that could disrupt chip production. The market expects any supply shortfall to widen further, potentially benefiting Micron.

SK Hynix is a major supplier of high-bandwidth memory (HBM) to AI chipmakers including NVIDIA. The expansion of AI data centers by Microsoft, Google and Meta has driven up memory demand and prices. As of 2025, SK Hynix held 61% of the global HBM market, far ahead of Samsung Electronics’ 17%, making it a key force reshaping South Korea’s semiconductor industry.

SK Hynix shares closed 5.6% higher on June 22, 2026, lifting its market capitalization to 2,080.4 trillion won, or about $1.35 trillion. That surpassed Samsung Electronics’ 2,066.7 trillion won valuation excluding preferred shares, ending Samsung’s reign as South Korea’s most valuable company since 2000. SK Hynix also plans to issue about $27 billion of American depositary receipts on Nasdaq as early as mid-to-late July.

SK Hynix is a major South Korean memory-chip maker and a key supplier of high-bandwidth memory, or HBM, to NVIDIA. As generative AI and high-performance computing expand, HBM has become a critical component in AI accelerators, prompting investors to reassess the company’s growth potential and industry position.

In the latest trading as of July 2026, SK Hynix’s market capitalization exceeded $1 trillion, making it the third Asian company to cross that threshold. Its shares have doubled so far this year and reached a record high, bringing its market value close to that of Samsung Electronics. Micron also crossed the $1 trillion mark over the same period, while UBS raised its price target for the company to $1,525.