Emily Scarlet: SK Hynix’s $29 billion financing will impact the AI storage market

Analyst Emily Scarlet pointed out that SK Hynix's $29 billion financing plan will reshape the AI memory chip market and compared the competitive outlook between SK Hynix and Micron Technology. In the short term, SK Hynix and Micron Technology's share price correlation is stronger than the shift in market share. In the medium term, the focus of competition is on HBM4, with SK Hynix's financing being used to build new wafer fabs and purchase EUV equipment. U.S. President Trump's political support for Micron Technology can reduce downside risks. In the long term, SK Hynix's capital injection strengthens its balance sheet, giving it a structural advantage in the potential supply surplus from 2028 to 2029.