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The memory bid that opened in NAND has widened into the rest of the storage complex Friday afternoon, and the tape is showing exactly where the money went.

SK hynix leads the high-bandwidth memory (HBM) market, holding a 50% share, but Samsung is rapidly gaining ground. I see SK hynix and Samsung dominating future memory markets due to their leadership in HBM, HBF, and emerging HBS technologies. Micron risks marginalization by not investing in HBF, as I believe HBM + HBF will replace current AI memory architectures.

SKHY rides surging AI data-center demand, expands HBM capacity and U.S. production, and deepens its NVIDIA partnership as memory shortages persist.

The memory industry remains in focus as investors weigh strong pricing, rapid market growth and shifting competitive positions across major players including Samsung Electronics Co. Ltd. (OTC:SSNLF), SK Hynix Inc. (NASDAQ:SKHY), Micron Technology Inc. (NASDAQ:MU), Kioxia, Sandisk Corp. (NASDAQ:SNDK) and YMTC.

Samsung Electronics and SK Hynix shares rebounded on Thursday after Dell Technologies provided evidence that demand for AI infrastructure remains strong. Samsung rose 1.2% to 253,500 won in early Seoul trading, while SK Hynix gained 1.5% to 1.637 million won.

Semiconductor exports surged 209% from a year earlier to a record $46.65 billion in August, accounting for 47.5% of the country's $98.25 billion in goods exports that month. Economists said a gradual chip slowdown would be manageable, but an abrupt pullback could be more damaging.

Soaring memory prices have lifted the shares of Micron Technology and SK Hynix to stratospheric heights. Memory cycles often end with these shares crashing, but this cycle does look different than past ones.