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SK Hynix Profit Skyrockets on AI Chip Demand
29 Jul
Summary
- Quarterly operating profit surged over sixfold to a record high.
- Demand for advanced memory chips for AI data centers drove earnings.
- Revenue increased by 257% to 79.3 trillion won in the quarter.
South Korean chipmaker SK Hynix achieved a record-breaking quarterly operating profit, soaring more than sixfold. This remarkable financial performance was primarily fueled by substantial investments in artificial intelligence data centers by major technology firms. Consequently, the demand for advanced memory chips experienced a significant upswing.
The company announced an operating profit of 60.5 trillion won for the April-June period. This represents a substantial increase from the 9.2 trillion won recorded in the same period last year. SK Hynix attributed this success to sustained demand growth from expanding AI infrastructure.
SK Hynix's quarterly revenue also saw dramatic growth, jumping 257% to reach 79.3 trillion won. The company noted that high-performance products for AI servers led to price increases, allowing them to surpass their previous quarterly record.
