Freedom: SK Hynix Surpasses Samsung in Market Capitalization for the First Time amid AI Boom

South Korean semiconductor manufacturer SK Hynix (000660) has become the country’s most valuable publicly traded company, overtaking long-time market leader Samsung Electronics. According to Freedom analyst Natalya Milchakova, this leadership shift reflects structural changes in the global semiconductor industry, where artificial intelligence (AI) technologies have emerged as the primary growth driver.

SK Hynix specializes in memory chips and is the world’s leading supplier of high-bandwidth memory (HBM) — a critical component used in AI accelerators. Among its key customers is U.S.-based Nvidia, whose GPUs form the technological backbone of most modern AI systems and data centers.

Industry estimates suggest SK Hynix holds over 61% of the global HBM market, while Samsung’s share in this high-growth segment stands at approximately 17%. Strong demand for AI solutions has driven a sharp increase in SK Hynix’s market valuation, propelling it to the top position among South Korean issuers.

Meanwhile, Samsung Electronics — the world’s largest producer of smartphones, consumer electronics, and semiconductors — has come under pressure. Investors have been concerned by inconsistent financial performance and reports of attempted labor strikes within its subsidiary units.

Freedom analysts view the shift in market capitalization leadership as a natural outcome of redistribution of demand in favor of manufacturers of components for AI infrastructure.

According to Natalya Milchakova, SK Hynix’s stock has already priced in much of the anticipated growth from the ongoing AI expansion. As a result, any negative developments — including a slowdown in demand for AI hardware or intensifying competition — could trigger a significant stock correction.

Not an individual investment recommendation.