Meet the Company Supplying 56% of the World's AI Memory Chips
Micron Technology supplies 56% of the world's AI memory chips, driving its stock up over 600% in a year, while SK Hynix, a South Korean rival, launched a $149-per-share ADS offering—the largest non-American listing ever. SK Hynix, which holds a 56% market share in high-bandwidth memory (HBM) chips, partners with Nvidia and recently unveiled a 1cnm LPDDR product 33% faster and 20% more energy efficient than existing solutions. The company’s HBM dominance positions it to capitalize on AI-driven demand for advanced memory solutions.
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Micron's 56% share in AI memory chips is heavily concentrated in GDDR6, not HBM—the high-value segment where SK Hynix and Samsung lead—so its stock surge may reflect broader AI optimism more than direct HBM exposure. The $149 ADS pricing for SK Hynix’s listing also raises valuation questions, especially as competitors push next-gen HBM3E, where yield and scalability remain key risks for mass adoption.