CoreWeave's 194% Surge and $100 Billion Order Backlog Signal Rising Nvidia GPU Demand
NVDA•SK Hynix's 5.7% jump lifted its market cap to 2,082.5 trillion won, highlighting Nvidia's reliance on HBM chips after a 340% rally this year. Nvidia shares dipped 1% on US-Iran tensions while CoreWeave's 194% post-IPO surge and $100 billion order backlog point to rising Nvidia GPU demand.
1. SK Hynix Overtakes Samsung Electronics
SK Hynix overtook Samsung Electronics on June 22, with shares rising 5.7% to lift its market capitalization to 2,082.5 trillion won. Its 340% year-to-date rally reflects booming AI demand for high-bandwidth memory chips used by Nvidia and Alphabet's Google.
2. Nvidia Shares Slip on Geopolitical Tensions
Nvidia shares declined 1% following fresh US-Iran threats and the Strait of Hormuz closure, underscoring investor sensitivity to Middle East risks. Memory-chip stocks held up, highlighting confidence in AI-driven data center demand despite broader market volatility.
3. CoreWeave Joins Nasdaq-100, Boosting GPU Demand
CoreWeave will enter the Nasdaq-100 on June 22 after surging 194% since its IPO, driven by triple-digit revenue growth. Its $100 billion contracted order backlog underscores escalating demand for Nvidia GPU compute access in AI infrastructure.
