Nvidia supplier SK Hynix posts record quarterly profit as AI boom drives demand
Summary
SK Hynix logo displayed on a phone screen as seen in this illustration photo taken in Krakow, Poland on January 30, 2023. South Koreas SK Hynix, one of the worlds largest memory chipmakers, on Thursday posted record quarterly profit, boosted by strong demand for its high bandwidth memory (HBM) used in generative AI chipsets. Here are SK Hynixs third-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate: Operating profit in the July-September quarter hit its highest level, rebounding from a loss of 1.8 trillion won during the same period last year. The South Korean chip giant is a key supplier to Nvidia and has benefitted from a boom in artificial intelligence servers. The company said last month that it has started mass production of its latest version of HBM chips and aims for delivery by the end of the year.
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