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In brief: SK Hynix nearly went bankrupt two decades ago, and its share price had barely moved before last year. However, the company is now one of the leading manufacturers of a core component of the AI boom. Over the past few weeks, an unprecedented stock rally has propelled the chipmaker past Samsung to become South Korea's most valuable company – depending on which numbers are used.
SK Hynix's stock price closed at approximately 2.9 million Korean won on the Korean stock exchange on Monday. The 5.6% gain raised the company's total market cap to approximately $1.35 trillion. Excluding preferred shares, this places the DRAM maker slightly above Samsung for South Korea's top spot.
The dramatic shift, fueled by the AI industry's demand for memory, has put the two companies right behind Meta and Tesla in global rankings. Unsurprisingly, Samsung prefers observers to include preferred shares, which would place it right between Meta and Tesla at $1.5 trillion.
