(Bloomberg) -- SK Hynix Inc. reached a market capitalization of over $100 billion, as investors continue to pour cash into shares of companies seen as key providers of artificial intelligence technology.

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The chipmaker’s share price has more than doubled over the past year amid surging demand for its high-bandwidth memory, which works in tandem with Nvidia Corp.’s AI processors. That’s made SK Hynix — which analysts say has a market share of over 90% in the latest version of HBM — the second-biggest company in South Korea.

While rival Samsung Electronics Co. remains larger, with a market value of over $360 billion, it has lagged SK Hynix in developing memory chips for AI. Samsung’s shares have risen 31% in the past year.

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