Upbeat AI Data Centers Demand Propels SK Hynix: More Growth Ahead?

SKHY has locked in a long-term partnership with NVDA to supply high-bandwidth memory for AI data centers and is building its first U.S. production facility in Indiana. The plant will manufacture next-generation HBM starting in late 2029. Wall Street analysts see approximately 54% upside potential for the stock, according to Zacks Investment Research.

The South Korean chipmaker, the country's second-largest company, is riding demand for HBM and advanced storage chips powering AI infrastructure. The Indiana facility marks SKHY's first domestic AI memory production footprint and positions the company to supply NVDA's evolving GPU roadmap through the end of the decade.

The 54% analyst consensus upside suggests the market has not yet fully priced in SKHY's role as a critical supplier in the AI memory stack. MU competes in the same HBM space, making comparative positioning between the two memory leaders a key theme for traders tracking AI infrastructure buildouts.