SK Group's Chairman stated on Tuesday that its memory chip subsidiary, SK Hynix, aims to double its wafer production capacity over the coming five years.

Chey Tae-won made these remarks at the Computex exhibition in Taipei, an event that gathered top executives from global technology leaders like Nvidia.

Back in March, Chey had cautioned that the global shortage of wafers might persist until 2030. He also emphasized the need for companies to deepen their collaborative footprint in Taiwan, suggesting partnerships should extend beyond the world's leading foundry, TSMC.

He additionally expressed a desire for SK Hynix to become the primary supplier of High Bandwidth Memory (HBM) for Nvidia's Vera Rubin computing system.

Driven by the artificial intelligence sector's momentum, SK Hynix saw its market capitalization surpass 100 trillion won for the first time last week, joining rivals Samsung Electronics and Micron Technology in reaching this trillion-won valuation milestone.

According to data from Counterpoint Research, as a core HBM supplier to Nvidia, SK Hynix held a 58% share of the global HBM market in the first quarter, with Samsung and Micron each holding 21%.

Many analysts now point out that the AI boom is altering the storage industry's traditional cyclical nature, with Chey's comments coinciding with this pivotal moment of industry transformation.

Goldman Sachs has raised its operating profit forecasts for both companies for 2028, citing sustained robust AI demand. The firm increased its profit estimate for SK Hynix by 24% to 454 trillion won (approximately $2996.2 billion) and for Samsung Electronics by 23.3% to 610 trillion won.