SK Hynix’s 340% Rally and CoreWeave’s 194% Surge Signal Growing Nvidia GPU Demand
NVDA•SK Hynix's 340% share rally this year lifted its market cap to ₩2,082.5 trillion, fueled by HBM sales to Nvidia and Google. Micron, SanDisk, Seagate and WDC reached overbought RSI levels above 70 and CoreWeave soared 194% since IPO ahead of Nasdaq-100 inclusion, underscoring surging AI demand for Nvidia GPUs.
1. SK Hynix’s 340% Rally Boosts HBM Supply for Nvidia
SK Hynix shares have climbed over 340% this year, pushing its market capitalization to ₩2,082.5 trillion as it overtakes Samsung. The surge is driven by high-bandwidth memory (HBM) chips sold to Nvidia and Alphabet’s Google for AI data centers, strengthening a crucial supply line for Nvidia’s GPU systems.
2. Memory Stocks Reach Overbought Levels on AI Demand
Micron’s RSI of 66.4, SanDisk’s 70.9, Seagate’s 74 and Western Digital’s 78 signal overbought territory as record highs underscore booming AI data-center orders. Nvidia shares dipped around 1% amid geopolitical tensions but stand to benefit from sustained memory-driven infrastructure growth.
3. CoreWeave’s 194% Surge Ahead of Nasdaq-100 Debut Highlights GPU Growth
CoreWeave has rallied 194% since its IPO and secured a $100 billion contracted GPU compute backlog ahead of its Nasdaq-100 inclusion on June 22. Its expansion and Nvidia partnership reflect escalating demand for GPU resources in AI training and inference workloads.
