SEOUL: South Korean chipmaker SK Hynix Inc is poised to overtake LG Energy Solution Ltd as the country’s second-largest stock, regaining the spot as investors pile into shares, seen as a beneficiary of the boom in artificial intelligence.
SK Hynix’s market value rose to 90.8 trillion won (US$66.9 billion) early Thursday morning, compared with LG Energy Solution’s 89.9 trillion won.
The chipmaker, a key supplier of high-bandwidth memory to Nvidia Corp, has seen its shares spike 66% so far this year. In contrast, LG Energy Solution, a Tesla Inc supplier, dropped 12% amid a dour outlook on electric-vehicles demand.