Fitch Ratings expects Korean memory chip manufacturers to gain in 2026 as the AI spending wave expands demand beyond high-bandwidth memory (HBM) into conventional DRAM and SSD segments, according to a recent release.

However, the staunch growth increases the chip makers' exposure to risks, specifically customer concentration and potential shocks to the AI investment cycle, Fitch said.

Despite this volatility, tight supply conditions are expected to support firmer average selling prices for chips over the medium term.

Leading producer SK hynix (KRX:000660) has high HBM exposure, while Samsung Electronics (KRX:005930) benefits from its more diversified business lines for a better buffer against potential AI investment slowdowns.