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Nvidia leads semiconductor market caps while memory makers Samsung, SK Hynix, and Micron see surging profit margins

Thursday, March 5, 2026 at 09:54 PM

A comparison of market capitalization and operating profit margin trends for major semiconductor players shows Nvidia leading at $4.32T, followed by Samsung, SK Hynix, Broadcom, and Micron. Memory manufacturers including Samsung, SK Hynix, and Micron are experiencing significant increases in operating profit margins.

Context

The global semiconductor landscape is witnessing a historic shift as Nvidia maintains its dominant market cap of $4.32T, fueled by the relentless AI infrastructure boom. However, the most significant structural change in late 2025 is the record-breaking performance of memory makers. SK Hynix achieved a milestone by overtaking Samsung Electronics in annual operating profit for the first time, reporting 47.2 trillion won for FY2025. This surge is driven by a near-monopoly on high-bandwidth memory (HBM) and a general shortage of AI-related chips that has pushed operating margins to a staggering 49%. Simultaneously, Micron and Broadcom are capturing massive value from the AI supply chain. Micron recently reported quarterly revenue growth of 56.7%, reaching $13.64 billion, with forward gross margin guidance climbing to 68%. Analysts project the total semiconductor market will hit $975 billion in sales by 2026. While Nvidia leads in valuation, the surging profitability of memory leaders underscores a 'winner-take-all' dynamic for companies providing the essential high-performance components required for next-generation AI scaling.