US-based companies dominate the world’s top ten firms by market capitalization, with seven out of ten being American tech giants. This concentration is reflected in the MSCI World Index, where the US holds a 73.92% weightage. This dominance, unseen since the late 1980s, underscores the US’s significant role in the global economy, particularly in the booming tech and AI sectors.
South Korean memory manufacturer SK Hynix has triumphantly navigated last year’s downturn to emerge with significant profitability in the first quarter of 2023. Riding the wave of the booming AI industry, the company reported a staggering 144.3% increase in revenue to 12.42 trillion won. SK Hynix’s dominance in supplying high-bandwidth memory (HBM) to Nvidia’s AI chip platform has been a major driving force behind this growth.
