SK Hynix
000660.KScompute· KRX 000660 · thin US OTC ADR (HXSCL)SK Hynix – Memory manufacturing: High Bandwidth Memory (HBM) silicon design and fabrication.
Why it matters
HBM is the inference bottleneck. The vendor that supplies it on schedule and at the right base-die quality decides which accelerator generations actually ship.
The read
Levered to HBM supply — the inference memory bottleneck; on-time, right-quality base die decides which accelerators ship.
Bull case: HBM is the inference bottleneck and SK Hynix leads on qualification pace and base-die quality at ~80% memory margins.
Themes