Memory Boom Boosts SK Hynix 11.6%, Qualcomm’s $40B Data Center Push Challenges Nvidia
NVDA•Micron’s fiscal Q3 revenue hit $41.5B, 16% above forecasts, and it secured $22B in memory chip commitments, boosting SK Hynix 11.6%, Samsung 6.2% and Nvidia 0.5%. Qualcomm raised its revenue goal to $40B by fiscal 2029, including $15B in data centers, and previewed Dragonfly chips to challenge Nvidia.
1. Sector Rally After Micron Beat
Micron reported fiscal Q3 revenue of $41.46 billion, beating forecasts by 16% and securing $22 billion in memory chip commitments. This lifted SK Hynix shares 11.6%, Samsung shares 6.2% and sent the KOSPI up 5.3%, while Nvidia shares edged up 0.5% on renewed confidence in AI-driven memory demand.
2. Qualcomm’s Data Center Strategy
Qualcomm raised its revenue goal to $40 billion by fiscal 2029, including $15 billion from data center sales, and unveiled its Dragonfly data center chip lineup. The plan positions Qualcomm as a stronger competitor to Nvidia in AI processing, targeting cloud and enterprise customers with dedicated hardware and software integration.
3. Implications for Nvidia’s Market Position
Nvidia saw only a 0.5% share rise despite the broader memory rally, highlighting the growing pressure from memory suppliers and chip rivals. Micron’s supply commitments and Qualcomm’s Dragonfly push underscore potential margin impacts and market share shifts as competition intensifies in the AI processor space.
