• Micron Technology and SK Hynix have both surpassed a market value of $1 trillion.
• The surge is driven by increasing demand for memory chips associated with AI data centers.
• Micron's stock price rose sharply after UBS raised its target price significantly.
• SK Hynix shares have also tripled in value this year, reflecting strong performance in the semiconductor market.
• The KOSPI index reached a record high, heavily influenced by these chipmakers' surges.

Micron Technology became the latest company to cross the $1 trillion market value threshold, achieving this milestone on May 26. This remarkable growth is attributed to the rising demand for memory chips critical for AI data centers, reflecting a broader shift in investment focus towards companies that supply key AI hardware components, according to Reuters and India Times.

Shares of Micron surged nearly 20% in one trading session, partly fueled by an increased price target set by UBS, which raised it to $1,625 from $535. This move underscores how institutional investors prioritize memory chipmanufacturers amid the AI boom, according to BBC and Reuters.

Meanwhile, South Korea's SK Hynix also joined the $1 trillion market capitalization club, achieving this significant milestone as AI-driven demand escalates. The company's shares have more than tripled since the beginning of the year, boosted by strong sales in AI-related products. The KOSPI index, reflecting the country's stock market, reached an all-time high, energized by the performance of major companies like SK Hynix and Samsung, as noted by Channel News Asia and Channel News Asia.

Both Micron and SK Hynix's valuations highlight a significant supply crunch for memory chips, driven by massive investments in AI infrastructure. The competition to produce high-quality memory chips is intensifying as companies expand their data center capacities to meet growing needs in AI, which is expected to continue influencing prices and market dynamics for the foreseeable future, according to Reuters and India Times.