Booming AI chip demand helps create two new $1tn club members

Two major memory chipmakers have surpassed $1 trillion in market valuation, fueled by soaring demand for AI hardware, while industry leader Nvidia announced a new chip designed to bring AI directly to personal computers^[1][2].

SK Hynix and Micron have joined the $1tn club as a global boom in artificial intelligence data centers drives up sales and stock prices for semiconductor manufacturers^[1]. Shares in South Korea's SK Hynix have more than tripled since the start of the year^[1]. U.S.-based Micron saw its stock rise by almost 20% after investment bank UBS tripled its price target for the company^[1]. Separately, shares in Samsung Electronics jumped by more than 6% after a union vote in favor of a pay deal averted a potential strike^[1]. Concurrently, Nvidia unveiled a new AI chip for personal computers called the RTX Spark^[2]. The company's CEO, Jensen Huang, framed the launch as an event as significant as the smartphone revolution, stating the chip is designed for an era of personal AI agents^[2]. The RTX Spark will be included in new lines of Windows PCs from major manufacturers^[2]. Nvidia, however, faces competition from established players like Apple and Intel in the expanding market for consumer AI hardware^[2]. The surge in valuations across the sector reflects massive global demand for advanced chips, though some investors have warned of a potential bubble^[1].