South Korean memory giant SK Hynix is undergoing the world’s largest memory fab buildout, betting $720 billion to triple capacity by 2034, despite the boom-and-bust cycle of the memory industry. SK Hynix’s market cap has jumped more than fivefold in the past year and now tops $1 trillion. CNBC’s Katie Tarasov sits down with SK Group Chairman Chey Tae-won at SK Group’s headquarters in Seoul to ask about the risks he’s taking and why he thinks that AI has changed the memory business for good.