SK hynix shares surpassed 200,000 won on Nvidia’s earnings report

Pictured here is SK hynix’s Zoned UFS (ZUFS) 4.0, a NAND flash memory chip that improves data management performance and optimizes data transfer between the operating system and storage devices. (SK HYNIX)

SK hynix shares topped 200,000 won ($147) for the first time after Nvidia’s better-than-expected fiscal first-quarter results were released on Wednesday.

Shares of the Korean chipmaker were trading at 204,000 won when the stock market opened. As of noon Thursday, it was trading at 202,500 won, up 2.43 percent from the last session.

The share price of Nvidia supplier SK hynix has surged more than 40 percent this year amid the artificial intelligence boom, but has breached the 200,000 won mark for the first time.

The Korean company is a market leader in high-bandwidth memory (HBM) chips, an essential part of AI processors, and is the exclusive supplier of HBM 3 and 3E modules, the fourth and fifth generation versions of SK hynix, for Nvidia GPUs.

The US AI chip giant exceeded market expectations by reporting revenue of $26 billion for the first quarter of this year, which ended on April 28, up 18 percent from the previous quarter and 262 percent more than a year ago.

During the extended session on Wednesday, the company’s share price crossed the $1,000 mark for the first time.

BY KIM JU-YEON ([email protected])