Micron and SK hynix both cross $1 trillion market cap on AI memory demand 美光与SK海力士同日跨入万亿美元市值俱乐部，AI存储需求驱动
Two memory chipmakers — Micron and SK hynix — became the first pure-play DRAM/HBM vendors to cross a $1 trillion market capitalisation, joining Nvidia, TSMC and a handful of others. SK hynix is up ~250% year-to-date, Micron's HBM order book is reportedly sold out through 2026, and Micron's data-center revenue grew 150% YoY in its most recent quarter. The crossing reframes a long-running argument: in this AI cycle, memory is no longer the cyclical commodity sidecar to logic — it is co-equal infrastructure, and the buyers are pricing it that way. The risk angle: the same digitimes-cited analysts who validate the move are also asking when (not whether) cyclicality returns. 存储芯片厂美光和SK海力士同日跨入万亿美元市值门槛，成为首批进入万亿俱乐部的纯DRAM/HBM厂商，与英伟达、台积电等少数公司并列。SK海力士年初至今涨幅约250%，美光的HBM订单据称已售罄至2026年，最近一季数据中心收入同比增长150%。这一里程碑改写了一个延续多年的争论：在本轮AI周期中，存储不再是逻辑芯片的周期性附属品，而是同等重要的基础设施，市场也在按此定价。风险面：肯定本轮的分析师同时在问——周期性回归是什么时候、而非是否会发生。