SK Hynix's HBM Empire Powers 65% US Revenue — Is This the Must-Own AI Stock?

The article analyzes SK Hynix's dominant position in the high-bandwidth memory (HBM) market, which is critical for AI data centers. It reports that SK Hynix holds 58% of global HBM revenue, with sales more than doubling year-over-year, leading to a record $33 billion operating profit in FY2025. The U.S. now accounts for 65% of the company's revenue, heavily driven by a partnership with Nvidia, which alone contributed 24% of 2025 sales. While the structural supply shortages in HBM provide pricing durability, the article highlights the concentration risk of heavy dependence on Nvidia. It presents SK Hynix as a compelling AI investment but notes that an analyst who called Nvidia in 2010 did not include SK Hynix in his top 10 AI stocks.