Investing com– South Korea’s SK Hynix Inc (KS:000660) on Thursday clocked a stronger-than-expected third-quarter revenue as the memory chip titan saw solid sales of its innovative chips for usage in expert system applications.
The company, which is a significant provider to AI beloved NVIDIA Corporation (NASDAQ: NVDA), uploaded an operating revenue of 7.03 trillion won ($ 5.07 billion) for the 3 months to September 30, greater than Reuters approximates for a revenue of 6.8 trillion won. SK Hynix had actually logged a 1.8 trillion won loss in 2015.
SK Hynix’s income virtually increased to 17.57 trillion won. The company stated that need for memory from the AI field, particularly in information facilities, was a significant motorist of its profits.
The company has actually been among the most significant recipients of the AI boom over the previous year, considered that it makes one of the most innovative high-bandwith memory chips that are utilized in AI chipsets. It is additionally the globe’s second-largest memory chip manufacturer by quantity, behind Samsung Electronics Co Ltd (KS:005930).
HBM sales rose 70% from the previous quarter and were up 330% from in 2015, SK Hynix stated.
Nvidia is an essential resource of this need, with SK Hynix mainly exceeding competitors Samsung and Micron Technology Inc (NASDAQ: MU) in current quarters on this pattern.
The company had in September stated it had actually begun automation of its most recent generation of HBM chips, which are one of the most innovative memory chips offered in the marketplace.
Shares of the company were trading up virtually 38% thus far in 2024, although they were off record highs struck previously in the year.
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