SK Hynix, a major memory chipmaker based in South Korea, has announced better-than-expected quarterly profits. The company credited the strong performance to the high sales of high bandwidth memory (HBM) used in generative AI chipsets.
The positive financial outcome highlights the increasing demand for advanced memory solutions in the rapidly growing AI sector, positioning SK Hynix favorably in the competitive semiconductor market.
In the third quarter, SK Hynix generated revenues of 17.57 trillion won ($12.7 billion), slightly below the projected 18.11 trillion won. However, the operating profit exceeded expectations, reaching 7.03 trillion won ($5.08 billion).