By crispusnyaga@benzinga.com
Publication Date: 2026-06-07 18:25:00
Nvidia (NASDAQ:NVDA), the biggest company globally, has selected South Korea’s SK Hynix to be the memory supplier for its new Vera chip, a move that may supercharge the latter’s stock.
Nvidia Selects SK Hynix for Vera Memory Chips
SK Hynix stock has jumped by 220% this year and by 817% in the last 12 months, making it one of the best gainers globally. Its 1,500% surge in the last five years has helped to transform it into a $1 trillion company.
SK Hynix stock five-year performance | Source: TradingView
In a statement, Nvidia’s Jensen Huang said:
“We had a very big year this year with SK Hynix, and we are preparing for a very, very large second half of the year and next year. We introduced Vera CPU, which is a revolutionary CPU, and it will also use SK Hynix’s DRAM.”
The announcement will likely boost the SK Hynix stock price when the markets open on Monday. Besides, Nvidia believes that its Vera CPUs will eventually be a $200 billion business, helped by the ongoing growth of AI agents.
SK Hynix’s business has grown rapidly in the past few years, helped by the ongoing memory shortage and price increases. This surge has continued this year, with the shortage escalating. Its most recent results showed that its revenue came in at 52.58 trillion KRW ($34 billion), up by 60% QoQ and 198% YoY.
Nvidia’s Growth is Accelerating
Analysts already expect its business growth to continue, with the average annual revenue expected to be $391 billion, followed by $550 billion next year.
Image:…