SK Hynix Surges 340% and CoreWeave’s 194% IPO Rally Highlight Nvidia GPU Demand
NVDA•SK Hynix shares have surged 340% this year, pushing its market cap to 2,082.5 trillion won as Nvidia becomes a key HBM chip customer driving supply chain shifts. CoreWeave’s 194% IPO rally and $100 billion GPU order backlog ahead of its Nasdaq-100 entry underline intensifying Nvidia GPU demand.
1. SK Hynix Emerges as Leading Nvidia Supplier
SK Hynix’s shares have soared over 340% year-to-date, lifting its market capitalization to 2,082.5 trillion won as its high-bandwidth memory chips become critical components for Nvidia’s AI systems. This milestone makes SK Hynix the world’s most valuable memory chipmaker, overtaking Samsung and reshaping Nvidia’s supply chain dynamics.
2. Memory Stocks Rally While Nvidia Dips
Micron, SanDisk, Seagate and Western Digital each hit record highs with RSI readings above 66, reflecting robust AI-driven data center demand. In contrast, Nvidia shares declined 1% following renewed geopolitical tensions, highlighting divergent moves between chip suppliers and GPU designers.
3. CoreWeave’s Nasdaq-100 Inclusion Signals GPU Demand Surge
CoreWeave will join the Nasdaq-100 on June 22 after a 194% gain since its IPO and securing a $100 billion contracted order backlog for GPU compute services. The move underscores accelerating demand for Nvidia GPUs across AI infrastructure providers.
