SEOUL — As artificial intelligence spending fuels a memory chip supercycle in 2026, investors are weighing Samsung Electronics against SK Hynix to determine which Korean giant offers the stronger buy. Both companies are riding explosive demand for high-bandwidth memory (HBM) used in AI accelerators, but they present distinct risk-reward profiles amid intensifying competition and massive capital investments.

SK Hynix has emerged as the clear near-term leader in the AI memory race. The company posted a record first-quarter 2026 profit that jumped five-fold year-over-year, driven by surging HBM prices and strong sales to Nvidia and other hyperscalers. Analysts credit SK Hynix's early focus on HBM technology, giving it a dominant market share estimated between 53% and 62% in recent quarters. Its shares have climbed nearly 90% year-to-date, reflecting investor confidence in sustained AI demand through 2028.

Samsung, traditionally the memory market's largest player, is aggressively closing the gap. The company announced plans to invest over $73 billion in 2026 on facilities and research to secure leadership in the AI chip era. Samsung has ramped up HBM3E shipments and is accelerating development of........

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