Micron Technology's HBM3E is close to being sold out in the next two years, causing a surge in the stock prices of SK Hynix, Samsung Electronics, and NVIDIA Blackwell!

Micron Technology's new quarterly financial report brings a "surprise gift package", with Asia-Pacific chip stocks such as Hynix and Samsung Electronics soaring. As NVIDIA launches its strongest AI chip ever, the market's enthusiasm for artificial intelligence is rapidly heating up.

On Thursday, in the Asia-Pacific stock market, Samsung Electronics rose by 3%, nearing a three-month high, while SK Hynix surged by over 8%, reaching a high for the week.

With the strong performance of chip stocks, the South Korean benchmark KOSPI index closed up by 2.41% at 2754.86 points, reaching a high point in nearly two years.

Earlier, during Micron Technology's second quarter (the three months ending on February 29), the company announced in a conference call that their new product HBM3E chip (the fifth generation HBM, the highest specification DRAM product for AI applications in the market) has already sold out all of this year's production capacity, and most of next year's production capacity has also been pre-ordered.

Micron Technology expects that the entire fiscal year 2024, the HBM series products will bring the company "hundreds of millions of dollars" in revenue, potentially rivaling the company's second largest business - the NAND business.

Micron Technology also revealed that HBM3E will supply NVIDIA's AI chip H200 GPU. The company began mass production of HBM3E at the beginning of the year and has started deliveries.

This news has pleasantly surprised Wall Street.

Some analysts interpret this as "a strong signal of prosperity in demand for NVIDIA's Blackwell chip". Earlier reports indicated that HBM3E will power NVIDIA's strongest AI chip ever, Blackwell.

Furthermore, Micron Technology's second quarter performance "crushed" Wall Street's expectations across the board: Revenue increased by 57.7% year-on-year to $5.82 billion, significantly higher than analysts' expectations of $5.35 billion, and exceeded the previous performance guidance;

Adjusted earnings per share were $0.42, while analysts had expected a loss of $0.24 per share, turning profitable one quarter earlier than originally expected.

Boosted by the financial report, Micron Technology's stock price surged over 18% in after-hours trading on Wednesday.

At the same time, Samsung Electronics and SK Hynix also received good news.

Previously, NVIDIA co-founder and CEO Huang Renxun stated at the GTC 2024 conference that NVIDIA is testing Samsung Electronics' HBM chip and may adopt it in the future.

As the sole supplier of HBM3 chips for NVIDIA at present, SK Hynix announced on March 19 that it has started mass production of HBM3E and will begin supplying customers from the end of this month. On the same day, NVIDIA launched the Blackwell series chips at the GTC conference.

Analysts believe that driven by downstream demand, the storage chip industry will face a supply shortage in 2024, Samsung Electronics' chip business may return to profitability, and SK Hynix's operating profit in the first quarter may further increase