Nvidia Supplier SK Hynix Records Highest Quarterly Profit in 6 Years Driven by Surging Demand for AI Chips

Benzinga

SK Hynix, one of the world's largest memory chipmakers, reported its highest quarterly profit in 6 years for the second quarter, driven by strong demand for AI chips.

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00:00It's Benzinga, and here's what's on the block.

00:02SK Hynix, one of the world's largest memory chip makers, reported its highest quarterly

00:07profit in six years for the second quarter, driven by strong demand for AI chips.

00:12Operating profit and revenue reached new highs due to a surge in memory chip prices driven

00:16by AI demand, recovering from a loss in the same quarter of the previous year.

00:20The chip maker supplies high-bandwidth memory chips used in AI processors from NVIDIA and

00:25saw demand increase for its HBM products.

00:28The company plans to begin mass-producing more advanced chips in the third quarter to

00:32meet the strong demand for AI servers.

00:33For all things money, visit Benzinga.com.

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