SK Hynix swings to profit in Q2 on strong AI chip demand

HBM sales up, but shares in South Korean memory maker hit by U.S. tech selloff

20240724 SK Hynix

SK Hynix credits its second-quarter turnaround to a recovery in the memory chip sector as well as rising demand for AI memory chips. © AP

KIM JAEWON, Nikkei staff writer

SEOUL -- SK Hynix reported an operating profit for the second quarter, compared to a loss in the same period a year ago, as the chipmaker benefited from strong demand for artificial intelligence memory chips.

The world's second-largest memory chipmaker said on Thursday that its operating profit came to 5.5 trillion won ($4 billion) for the April-to-June period, turning from a 2.9 trillion won operating loss in the previous year. Revenue increased 124.8% to 16.4 trillion won during the same period.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.