South Korea’s SK Hynix joined Micron in the $1 trillion valuation club Wednesday, rising 9.3% in Seoul as memory chip stocks surge on AI demand expectations while Bitcoin declines 1.5% over the past 24 hours to $75,800.
SK Hynix shares have climbed more than 1,000% over the past year, part of a broader rally in semiconductor equities tied to artificial intelligence infrastructure buildouts. Samsung Electronics topped $1 trillion earlier this month, completing a trifecta of mega-cap memory makers now valued at or above that threshold.
The shift reflects investor appetite for chip makers positioned to benefit from AI chip shortages and pricing power expected to persist through 2028. Micron, valued at $70 billion one year ago, has captured this momentum most visibly, gaining 21% in a single day and posting an 8% premarket advance Wednesday morning.
Bitcoin’s weakness contrasts sharply with semiconductor strength. Analyst James Check characterized the mood bluntly: “Nobody cares about bitcoin right now, and you just love to see it.” Check added that “Bitcoin sentiment is in the absolute gutter, and the bears are measurably the most confident they have been in a long time.”
The price action reflects broader sentiment deterioration in crypto markets. Check noted that “Anger, annoyance, disappointment, it’s all happening right now,” capturing the tone among traders as capital gravitates toward semiconductor equities on AI fundamentals rather than macro risk-on conditions that typically lift both equities and digital assets.
The Nasdaq advanced 0.9% in premarket trading Wednesday, suggesting semiconductor strength is driving broader market gains rather than a generalized equity rally lifting all sectors.
