SK Group's Chairman announced on Tuesday that its memory chip subsidiary, SK Hynix, intends to double its wafer production capacity within the next five years.

Earlier in March, the Chairman had cautioned that a global shortage of semiconductor wafers could potentially persist until the year 2030.

He further stated the aspiration for SK Hynix to become the primary supplier of high-bandwidth memory (HBM) for Nvidia's Vera Rubin system.

Last week, SK Hynix achieved a significant market milestone, with its market capitalization surpassing the 1 trillion dollar mark for the first time. This accomplishment makes it the latest company, following Samsung Electronics and Micron Technology, to reach this valuation, driven by the ongoing artificial intelligence boom.

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

The Chairman's remarks come at a time when some analysts believe the AI surge is fundamentally transforming the traditionally cyclical nature of the memory chip industry.

Goldman Sachs has revised its operating profit forecasts upwards for both SK Hynix and Samsung Electronics for the year 2028. The bank raised its estimates by 24% and 23.3%, respectively, citing persistently strong demand fueled by artificial intelligence. The new projections stand at 45.4 trillion Korean won and 61.0 trillion Korean won.