SK Hynix (KRX:000660) aims to double the output of key AI memory chips over the next five years, projecting a global supply shortage that could last until 2030, Bloomberg News reported on Wednesday, citing chairman Chey Tae-won.

Tae-won said in Taipei that the company is boosting investment to tackle the supply-demand gap, though exact figures are elusive due to fluctuating costs of land, equipment, and electricity, the news wire said.

Chey said the company is committed to funding the expansion of chip wafer capacity at all necessary levels, the publication said.

As a dominant player alongside Samsung Electronics (KRX:005930) and Micron, SK Hynix has benefited from the surge in data center construction, with recent multitrillion-dollar spending projections from tech giants helping push its valuation and Micron's past $1 trillion last week.

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