SK Hynix beats estimates on AI semiconductor sales
SK Hynix Inc reported a record quarterly operating profit of 37.61 trillion won, driven by surging demand for AI semiconductors and high-bandwidth memory. The company's sales nearly tripled to 52.58 trillion won, exceeding analysts' estimates.
SK Hynix Inc reported a five-fold jump in quarterly profit to 37.61 trillion won, driven by the booming demand for AI semiconductors. Sales nearly tripled to 52.58 trillion won, exceeding analysts' average estimate of 35.7 trillion won. The company is benefiting from its lead in high-bandwidth memory, critical for training and running AI models alongside Nvidia Corp accelerators. SK Hynix plans to increase capital spending significantly this year, with a focus on cutting-edge extreme ultraviolet lithography chipmaking tools. The company's shares have climbed about 90 percent this year. SK Hynix's rival Samsung Electronics Co plans to spend over 110 trillion won on chip capacity expansion and research this year.
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