South Korean chipmaker SK Hynix announced on Wednesday that its quarterly operating profit increased by more than six times, driven by large technology companies increasing investment in artificial intelligence data centers, and strong demand for advanced memory chips. The Nvidia supplier announced that operating profit for the period from April to June was 60.5 trillion won), compared to 9.2 trillion won in the same period last year. However, this data fell short of the 64 trillion won estimated by LSEG SmartTest, and the agency focused more on analysts with higher prediction accuracy and stability. SK Hynix said in a statement: “Driven by continued demand growth brought about by the expansion of investment in artificial intelligence infrastructure, high-performance products for artificial intelligence servers have led to price increases, making the company's performance surpass the historical record set in the previous quarter.” SK Hynix failed to meet analysts' expectations because the company's business share in the field of high-end memory chips used in AI data centers is higher than that of its competitors, which means it benefits less from the strong rise in traditional memory chip prices. The company said its quarterly revenue increased 257% to 79.3 trillion won.

South Korean chipmaker SK Hynix announced on Wednesday that its quarterly operating profit increased by more than six times, driven by large technology companies increasing investment in artificial intelligence data centers, and strong demand for advanced memory chips. The Nvidia supplier announced that operating profit for the period from April to June was 60.5 trillion won), compared to 9.2 trillion won in the same period last year. However, this data fell short of the 64 trillion won estimated by LSEG SmartTest, and the agency focused more on analysts with higher prediction accuracy and stability. SK Hynix said in a statement: “Driven by continued demand growth brought about by the expansion of investment in artificial intelligence infrastructure, high-performance products for artificial intelligence servers have led to price increases, making the company's performance surpass the historical record set in the previous quarter.” SK Hynix failed to meet analysts' expectations because the company's business share in the field of high-end memory chips used in AI data centers is higher than that of its competitors, which means it benefits less from the strong rise in traditional memory chip prices. The company said its quarterly revenue increased 257% to 79.3 trillion won.