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SK Hynix Inc (KS:000660), a key Nvidia supplier, reported a record fourth-quarter operating profit, soaring 2,236% to 8.08 trillion won ($5.64 billion), slightly exceeding Reuters' forecast of 8 trillion won. Revenue surged 75% to 19.77 trillion won during the same period, fueled by booming demand for advanced memory chips, especially from the AI sector.
As the world’s second-largest memory chip producer, SK Hynix outpaced competitors Samsung Electronics (KS:005930) and Micron Technology (NASDAQ:MU) in high-bandwidth memory (HBM) chip production. HBM chips are critical for AI processors, and SK Hynix has solidified its position as a major supplier to AI leader NVIDIA Corporation (NASDAQ:NVDA). The company's strategic investments in production capacity and cutting-edge technology have paid off, driven by skyrocketing AI development.
SK Hynix expects continued demand growth for HBM and server memory as AI innovation accelerates worldwide. To meet this, the company plans to expand HBM supply, reinforcing its role in the evolving AI industry.
Shares of SK Hynix gained momentum after U.S. President Donald Trump announced a $500 billion private AI infrastructure initiative over the next four years. OpenAI and SoftBank Group (TYO:9984) will lead the project, with Nvidia, Oracle (NYSE:ORCL), Microsoft (NASDAQ:MSFT), and Arm as key partners.
This robust demand underscores SK Hynix’s pivotal role in AI technology advancement, ensuring its dominance in memory chip production while aligning with global AI infrastructure development.
