SK hynix is emerging as a leading memory-chip beneficiary of the artificial-intelligence infrastructure boom, challenging Micron’s appeal as a long-term AI memory investment. Its high-bandwidth memory, or HBM, is packaged alongside advanced processors to move large volumes of data for AI training and inference.
The company began mass shipments of HBM4 in the second quarter of 2026 and plans to increase production during the second half of the year. It also completed sample shipments of HBM4E, the next generation of the product, during the first half. SK hynix said HBM4 met customer-required speeds while offering power-efficiency and cost advantages, but customer samples remain part of the qualification process rather than proof of broad commercial adoption.
The company has signed long-term agreements with roughly 10 customers and is continuing discussions with other major clients. It is also expanding capacity through the M15X facility, the Yongin semiconductor cluster and the P&T7 advanced-packaging plant in Cheongju. Those projects are intended to support future supply, while the company says demand currently exceeds its ability to deliver requested volumes.
SK hynix held about 61% of the global HBM market in 2025, compared with 21% for Micron and 17% for Samsung, giving it a substantial starting advantage. The broader memory business remains cyclical: manufacturers can expand capacity during periods of strong demand, eventually creating the risk of oversupply, weaker prices and lower margins. In this cycle, however, the technical demands of AI accelerators are increasing the importance of supplier qualification, packaging and close product development.
For investors seeking AI-memory exposure, the case for SK hynix rests on its current HBM position, HBM4 progress, customer commitments and planned capacity growth—not on a guarantee that the memory cycle will remain favorable for five years.