Seoul (Business Emerge), July 25: South Korea’s SK Hynix has announced its highest quarterly profit since 2018, driven by the rising demand for artificial intelligence (AI) chips. The company, which supplies Nvidia with high bandwidth memory (HBM) used in generative AI chipsets, projects continued growth in AI chip demand for the latter half of the year.
With an operating profit of 5.47 trillion won ($3.96 billion) for the April-June quarter, SK Hynix marked its third consecutive profitable quarter, a sharp turnaround from the substantial losses it suffered last year. This achievement aligns with market expectations and highlights the company’s strategic investments in high-end chips and solid-state drives (SSDs).
“Based on a stable financial structure, the company will further solidify its position as a leader in AI memory products,” stated CFO Kim Woohyun. SK Hynix’s early entry into the AI-driven market and significant investments have positioned it favorably among its peers.
Revenue surged 125% year-on-year to reach a record quarterly high of 16.4 trillion won, reinforcing the company’s strong performance and optimistic outlook.