Memory Market Expert: “SK Hynix Is Bigger, Cheaper and Closer to NVIDIA.” Inside Its $26.5 Billion Nasdaq Debut - 24/7 Wall St.

SK Hynix's $26.5 billion NASDAQ debut marks a pivotal moment in the AI-driven semiconductor supply chain, as the company controls approximately 58% of the global high-bandwidth memory (HBM) market—cru... Read original →

SK Hynix’s Nasdaq debut is less about capital raising and more a strategic realignment of the AI supply chain. With nearly 60% HBM market control, it locks in NVIDIA’s Blackwell and GB200 roadmaps, creating a vertically integrated stack of 3nm logic plus EUV-based HBM4. This pressures Micron to accelerate HBM4E and may force TSMC to expand CoWoS access to Korean players—otherwise, U.S. AI infrastructure remains dependent on offshore memory. While CHIPS Act funding eases compliance costs, any U.S.-ROK divergence on export controls (e.g., HBM sales to China) risks fragmenting SK’s global operations. HBM prices will stay elevated through 2027, but post-capacity surge and slowing AI server demand could trigger a 2018-style crash. Current valuations already price in peak-cycle optimism.