According to Bijie.com, on Monday, South Korean chipmaker SK Hynix briefly surpassed its peer Samsung Electronics to become the largest company by market capitalization in South Korea. SK Hynix's stock price rose 5.7%, bringing its total market capitalization to 2,082.5 trillion won (equivalent to US$1.35 trillion). During the same period, Samsung Electronics' stock price rose only 0.4%, with a total market capitalization of 2,081.3 trillion won. Samsung Electronics had held the top spot in South Korea's market capitalization since 2000, but this time it was briefly dethroned by SK Hynix. Driven by the rush of US tech giants to build artificial intelligence data centers, demand for memory chips surged, supply tightened, and product prices rose, resulting in record profits for both of South Korea's major chip companies. This year alone, SK Hynix's stock price has risen by over 340%, significantly outperforming Samsung Electronics' 200% increase.

According to a report released by CMB International, first-quarter results from leading overseas TMT companies showed strong demand for AI computing power, while upward revisions of capital expenditure guidance by several companies put short-term pressure on free cash flow. The bank believes the impact of AI investment on the profitability of leading technology companies is manageable, and expects operating profit growth to remain above 20% in fiscal years 2027/2028, with free cash flow expected to rebound from fiscal year 2028 onwards. The bank recommends Microsoft, Google, Amazon, Palo Alto Networks, and Meta.

According to Bijie.com, Chinese AI companies like Zhipu AI and MiniMax have extremely high valuations, with price-to-sales ratios (PS ratios) far exceeding their US counterparts. Data disclosed by investor Tommy Shaughnessy shows that Zhipu AI, already listed on the Hong Kong Stock Exchange, has a market capitalization of approximately $137 billion, but its revenue in fiscal year 2025 is only about $107 million, resulting in a PS ratio of 1280. MiniMax, valued at approximately $23 billion, has revenue of approximately $79 million in fiscal year 2025, with a PS ratio of approximately 290. In comparison, the PS ratios of unlisted leading US large-scale model companies OpenAI and Anthropic are only 34 and 21, respectively. Analysts point out that unless Chinese AI companies experience explosive revenue growth of several tens of times in the short term, their current high valuations will be unsustainable.

According to data from 8MarketCap, SK Hynix's market capitalization has been rising steadily throughout the day, currently reaching $1.348 trillion, a 5.61% increase in 24 hours. It has now surpassed Bitcoin's total market capitalization ($1.286 trillion) to become the 16th largest asset in the world, while Bitcoin has fallen to 18th place.

In the past hour, total liquidations across the network reached $16.21 million, with $15.45 million from long positions, with $757,843.27 from short positions. BTC liquidation $3.19 million, ETH liquidation $1.22 million.