In June 2026, SK Hynix surpassed Samsung Electronics in market capitalization for the first time, ending Samsung's 27-year reign as South Korea's most valuable company. The landmark shift is primarily driven by SK Hynix's absolute leadership in High Bandwidth Memory (HBM), a critical component for AI computing.
SK Hynix currently holds approximately 59% of the global HBM market, benefiting from high-profit margins and large orders from AI chip giant NVIDIA. Surging demand for HBM in AI training and inference has propelled SK Hynix's revenue and stock price, lifting its market cap above Samsung's.
In contrast, Samsung Electronics faces challenges from its diversified business structure, a lag in HBM adoption, and underperformance in non-memory segments such as foundry and consumer electronics. This market cap turnover not only marks a turning point in the rivalry between South Korea's two chip giants but also underscores how AI technology is reshaping the semiconductor industry's power dynamics. By focusing on core AI components, SK Hynix has seized the opportunity in the latest technological wave.