NH Securities lifts Samsung, SK hynix targets as agent AI boosts Korea memory - CHOSUNBIZ - Chosunbiz

NH Investment & Securities raised its target prices for Samsung Electronics and SK hynix amid the growing demand for memory driven by the spread of Agent AI. The firm noted that the AI inference serve... Read original →

The surge in Agent AI is triggering a structural realignment across the memory stack: inference servers’ soaring demand for HBM and high-density DRAM is forcing CPU/SoC architectures toward tighter compute-memory integration, straining upstream EDA tools and advanced packaging capacity. While U.S.-led export controls don’t directly target HBM, restrictions on CoWoS-related equipment from Japan and the Netherlands will inflate Korean manufacturers’ expansion costs and erode supply chain resilience. Facing Samsung and SK hynix’s lead in HBM3E/HBM4, Micron will likely accelerate its GDDR7/LPDDR5X hybrid strategy for edge AI and lobby Washington to influence memory interface standards. Over the next 18 months, HBM’s price premium will widen, lifting overall DRAM ASPs; with superior yields and deep customer lock-in, Korea’s duopoly is positioned to capture outsized profits in 2027—current valuations still underprice this shift in pricing power.