Bitcoin surpasses Samsung, Micron, and SK Hynix by market cap as AI chip stocks crater
Bitcoin surpassed Samsung Electronics, Micron Technology and SK Hynix by market capitalization on Thursday as crypto prices advanced and a sharp selloff hit artificial intelligence memory chip stocks.
Bitcoin traded as high above $62,000 during the session before settling near $61,500, giving the asset a market value of roughly $1.23 trillion.
Samsung’s market capitalization fell to approximately $1.22 trillion after its shares dropped 9.1% in South Korean trading. The decline placed the electronics group narrowly below Bitcoin by total market value.
SK Hynix shares plunged 14.6%, reducing the company’s valuation to about $1.01 trillion. The memory chipmaker had been valued at roughly $1.35 trillion less than two weeks earlier when it briefly overtook Samsung as South Korea’s largest listed company.
Micron fell another 5.5% on Thursday after losing 10.6% during the previous session. The declines reduced the US chipmaker’s market capitalization to about $1.12 trillion.
The three memory chipmakers had each crossed the $1 trillion valuation threshold during May as demand for high bandwidth memory and other components used in artificial intelligence infrastructure fueled a historic rally.
The rally began reversing after reports that Meta Platforms was considering selling excess computing capacity through a new cloud business. The proposal raised concerns that major technology companies may have built more artificial intelligence infrastructure than they currently require.
Profit taking also contributed to the decline after extraordinary gains across the sector. Before the latest retreat, Samsung had gained about 169% during 2026, while SK Hynix had risen more than 300% and Micron had advanced more than 240%.
Bitcoin moved in the opposite direction after weaker US employment data reduced expectations for further Federal Reserve rate increases. The asset briefly climbed above $62,000, recovering from a weekly low near $58,200.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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