South Korean chipmaker SK hynix reported a 557 percent increase in quarterly operating profit to a record high on Wednesday, driven by robust demand for advanced memory chips as big technology firms ramped up spending on AI data centres. The Nvidia supplier reported an operating profit of 60.5 trillion won ($41.62 billion) for the April-June period, compared with 9.2 trillion won a year earlier.That compared with a 64 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.SK Hynix missed analysts' forecasts because its higher exposure to high-end memory chips used in AI data centers than rivals meant it benefited less from a stronger price rally in conventional memory chips. (Reuters)
SK hynix Q2 profit jumps 557% on AI chip demand, misses forecasts
South Korean chipmaker SK hynix reported a 557 percent increase in quarterly operating profit to a record high on Wednesday, driven by robust demand for adva
TL;DRAI
SK hynix Q2 profit surged 557% to record 60.5T won ($41.6B) on AI data center chip demand, but missed 64T forecasts. Premium AI memory suppliers captured less from conventional chip rallies than diversified rivals—concentration risk for your infrastructure planning.
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