US Stock Market Move | Storage concept stocks collectively surged, with Seagate Technology Holdings PLC (STX.US) rising more than 9%.

On Wednesday, the storage concept stocks in the US collectively surged, with Seagate Technology Holdings PLC (STX.US), SanDisk (SNDK.US) rising by over 9%, Micron Technology, Inc. (MU.US) rising by nearly 8%, and Western Digital Corporation (WDC.US) rising by over 5%. In terms of news, according to the latest reports from the media, South Korean semiconductor giant SK Hynix is gaining the upper hand in negotiations with NVIDIA Corporation for the supply of the sixth generation of high-bandwidth memory (HBM4), successfully increasing its price by over 50% to around $560 per unit, consolidating its leading position in the high-end storage chip market. Analysts expect that due to the high profit margin of HBM4 and the soaring prices of general-purpose DRAM, SK Hynix's operating profit next year may exceed 70 trillion Korean won, setting a new historical high, as the company has already sold out its production capacity for next year. Initially, NVIDIA Corporation resisted the steep price increase, considering that Samsung Electronics and Micron will supply HBM4 on a large scale, leading to a deadlock between the two parties. However, the supply price was eventually finalized at around $560 per unit as proposed by SK Hynix. An executive at SK Hynix stated that considering the progress in technology and input costs, HBM4 has factors that justify a significant price increase.