The chairman of South Korea's SK Group said on Tuesday its memory chip unit SK Hynix aims to double wafer capacity over the next five years.
Chey Tae-won was speaking at the Computex conference in Taipei, where executives from some of the world's top technology companies, including Nvidia, are gathering.
Chey, who warned in March that a global chip wafer shortage was likely to persist until 2030, also said the company needs more partnerships in Taiwan, not just with TSMC, the world's largest contract chipmaker.
He added that he hopes his company can be a major high-bandwidth memory (HBM) supplier for Nvidia's Vera Rubin system.
Last week, SK Hynix topped $1 trillion in market value for the first time, joining rivals Samsung Electronics and Micron Technology in reaching the milestone on an AI-driven rally.
SK Hynix, Nvidia's leading supplier of HBM chips, held a 58% share in the global HBM market in the first quarter, followed by Samsung and Micron, each with a 21% share, according to Counterpoint Research.
Chey's comments come as some analysts say the AI boom is reshaping the traditionally cyclical memory industry.
Goldman Sachs raised its 2028 operating profit forecasts for SK Hynix and Samsung Electronics by 24% and 23.3%, respectively, to 454 trillion won ($299.62 billion) and 610 trillion won, citing sustained AI-driven demand.
