SK Hynix Surpasses Samsung; CoreWeave Joins Nasdaq-100 Strengthening Nvidia Ecosystem
NVDA•SK Hynix’s shares have rallied over 340% this year to a 2,082.5 trillion won valuation, overtaking Samsung as South Korea’s top listed chipmaker and supplying Nvidia with high-bandwidth memory chips. Nvidia shares dipped 1% on U.S.-Iran tensions even as memory stocks hit overbought RSI levels and CoreWeave secured Nasdaq-100 inclusion.
1. SK Hynix Tops Samsung Valuation
SK Hynix’s shares surged 340% this year, lifting its market capitalisation to 2,082.5 trillion won and overtaking Samsung Electronics as South Korea’s most valuable listed company. The turnaround underscores its dominance in high-bandwidth memory chips, critical components for AI workloads run by Nvidia and Alphabet.
2. Memory Stocks Rally Hits Nvidia Shares
Memory chip stocks including Micron, SanDisk, Seagate and Western Digital reached relative strength index readings up to 78, reflecting robust AI-driven data centre demand. Nvidia’s stock fell 1% as renewed U.S.-Iran tensions weighed on broader markets, even as investors wager on continued memory supply strength.
3. CoreWeave Joins Nasdaq-100 Index
CoreWeave, an AI infrastructure provider with a $100 billion contracted GPU compute backlog, has soared 194% since its IPO and will enter the Nasdaq-100 on June 22. The inclusion boosts visibility for its Nvidia partnership and diversification, though the firm remains exposed to high leverage and debt risks.
