SK Hynix Reports Record Second-Quarter Profit Amid Strong AI Demand
South Korean semiconductor manufacturer SK Hynix reported record second-quarter profits, driven by strong demand for high-bandwidth memory (HBM) chips used in artificial intelligence applications. The company's operating profit surged nearly 557% year on year to 60.54 trillion won and revenue rose 257%, though both figures fell short of analyst estimates. Despite missing expectations, the results highlight sustained growth fueled by AI demand. SK Hynix also saw a significant increase in performance compared to its previous quarter, with operating profit rising 61% and revenue up 51%. The company's leadership in HBM technology has been reinforced as it continues supplying chips for data centers and consumer electronics. A recent multiyear deal worth over $500 billion with U.S.-based tech giant Nvidia further supports this growth trajectory.
Topics: AI demand HBM (High-Bandwidth Memory) semiconductors SK Hynix earnings