SK Hynix Posts Record Quarterly Profit on Strong Sales of Advanced Chips
South Korea's SK Hynix reported a record quarterly profit on Thursday, driven by strong sales of advanced chips used in generative AI chipsets.
The company's operating profit for the October-December quarter reached 8.1 trillion won ($5.64 billion), an 8.1% increase from the same period a year earlier. This surpassed the 8 trillion won average forecast by analysts surveyed by LSEG SmartEstimate.
The strong performance was attributed to high demand for SK Hynix's high bandwidth memory (HBM) chips, which are used in advanced AI chips. The company is a major supplier of HBM to NVIDIA, which is a leader in generative AI technology.
Analysts remain optimistic about SK Hynix's prospects, given the growing demand for AI-related technologies. The company is expected to continue benefiting from this trend in the coming quarters.