The shares surged as much as 17% in their first day of trading on the Nasdaq but have since given up some of that gain.SK Hynix saw its market value top $1tn in its home country in May, lifted by the boom in demand for AI chips.Once an affordable component used to build devices, memory prices have more than doubled in recent months - and are still rising.Some big tech firms have hiked the price of popular gadgets, such as tablets and video game consoles, to cope with rising component costs.Ellie Wong, an analyst at technology research firm TrendForce, told , external such price increases were expected to continue until the end of 2027."Amid persistent supply shortages, many customers are seeking to diversify their memory supplier base, which should significantly benefit CXMT and create more business opportunities," she said.Related topicsInternational BusinessChinaStock marketsSemiconductorsArtificial intelligenceMore on this storyBooming AI chip demand helps create two new $1tn club membersPublished27 MaySamsung profits jump 1,800% as AI chip sales soarPublished7 JulyWorld's largest chipmaker does not rule out price rises as costs increasePublished9 June
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