SK Hynix posts sixfold rise in Q2 profit on AI chip demand, misses forecasts
FILE PHOTO: A logo of Semiconductor and memory chip company SK Hynix during the company’s debut at the Nasdaq market in New York City, U.S., July 10, 2026. REUTERS/Angelina Katsanis/File Photo
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SEOUL: South Korean chipmaker SK Hynix reported a more than sixfold increase in quarterly operating profit to a record high on Wednesday (Jul 29), driven by robust demand for advanced memory chips as big technology firms ramped up spending on AI data centres.
The Nvidia supplier reported a 557 per cent increase, or an operating profit of 60.5 trillion won (US$41.62 billion) for the April-June period, compared with 9.2 trillion won a year earlier. But it missed a 64 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
“Driven by sustained demand growth from expanding AI infrastructure investments, high-performance products for AI servers led price increases, enabling the company to surpass its previous record set in the prior quarter,” SK Hynix said in a statement.
SK Hynix missed analysts’ forecasts because its higher exposure to high-end memory chips used in AI data centres than rivals meant it benefited less from a stronger price rally in conventional memory chips.
The company said its quarterly revenue rose 257 per cent to 79.3 trillion won.
Source: Reuters/rj
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