South Korea’s SK Hynix enters exclusive $1 trillion club

Chipmaker becomes second South Korean company in history to hit milestone.South Korea’s SK Hynix has entered the exclusive ranks of companies worth at least $1 trillion, propelled by explosive demand for semiconductors used in AI.SK Hynix, the world’s second-largest memory chipmaker, hit the milestone this week as investors rushed to capitalise on record-shattering revenues generated by the AI boom.Recommended Stories list of 4 itemslist 1 of 4Mexico backs amendment to annul election results over foreign interferencelist 2 of 4Ethiopia to vote on June 1 as Abiy’s ruling party eyes landslide victorylist 3 of 4Senegal deny World Cup travel delay is due to coach disputelist 4 of 4Wembanyama and Spurs force game seven against Thunder in NBA playoffsend of listThe feat comes after SK Hynix’s two main rivals – US-based Micron and fellow South Korean tech giant Samsung Electronics – hit the milestone this month on the back of the global shortage of DRAM and NAND memory chips.SK Hynix’s share price has skyrocketed 240 percent since the start of the year, and more than 80 percent this month alone.The surge mirrors a broader AI-driven rally in South Korea’s stock market, which has seen the benchmark KOSPI index double in value so far in 2026.SK Hynix’s market capitalisation stood at 1.66 quadrillion won ($1.10 trillion) on Friday, after its shares finished nearly 2 percent higher.The South Korean chipmaker’s operating profit surged fivefold year-on-year in the first three months of this year, topping 37.6 trillion won ($24.9bn).Revenue came to 52.6 trillion won ($34.8bn), up threefold on a yearly basis.Only 17 companies have reached a market valuation of at least $1 trillion, all but five of which are based in the United States.Chinese state-owned PetroChina became the world’s first trillion-dollar company upon its listing on the Shanghai stock exchange in 2007 – a reign that would prove short-lived after the 2008 global crisis wiped out three-quarters of its market value.