Micron, SK Hynix Join 1 Trillion Market Cap Club This Week

According to BlockBeats, Micron Technology and SK Hynix this week crossed the 1 trillion U.S. dollar market valuation threshold, joining Samsung Electronics in the elite trillion-dollar market cap club for memory chip manufacturers. The milestone underscores how artificial intelligence demand is reshaping the memory sector, with high-bandwidth memory (HBM) supply shortages driving the surge.

Meanwhile, U.S. inflation pressures mount. The April PCE inflation index climbed to 3.8% year-over-year, the highest in three years, while core PCE rose to 3.3%, prompting multiple Federal Reserve officials to discuss potential rate hike measures and cooling market expectations for cuts later this year.