An SK Hynix flag (R) and a South Korean national flag (L) are hoisted outside the company’s Bundang office in Seongnam on January 26, 2024.
Jang Yeon-jae | AFP | getty images
South Korean memory chip giant SK Hynix on Thursday reported another quarter of record profit and revenue, as prices for its products continued to rise amid strong AI demand.
Here are SK Hynix’s first quarter results compared to LSEG Smart estimates, which are based on analysts’ forecasts that are consistently more accurate:
- Revenue: 52.58 trillion won ($35.53 billion) vs. 53.55 trillion won
- Operating profit: 37.61 trillion won vs 37.92 trillion won
Revenue exceeded Rs 50 trillion for the first time on a quarterly basis in the March quarter, while operating profit almost doubled from the previous quarter.
SK Hynix makes memory chips used to store data, which are found in everything from servers to smartphones and laptops.
As the world’s leading supplier of high-bandwidth memory, or HBM, used in AI datacenters, the company has benefited from a surge in demand for artificial intelligence.
“SK Hynix said that despite the fact that the first quarter is typically a seasonal downturn, demand remained strong due to expanded investments in AI infrastructure,” SK Hynix said in its earnings release.
HBM falls into the broader category of dynamic random access memory or DRAM – a type of semiconductor memory used to store data and program code that can be found in PCs, workstations, and servers.
SK Hynix had gained an edge over rivals such as Micron and Samsung in the DRAM market due to its early lead in HBM and its role as a major supplier to Nvidia, the world’s leading AI processor maker.
However, Samsung regained the top spot in DRAM revenue in the last three months of the year data From Counterpoint Research. Meanwhile, SK Hynix continued its dominance in HBM with 57% market share.
Counterpoint said the DRAM market has recorded 30% quarter-on-quarter growth for two consecutive quarters due to rising memory prices.
Surging demand for HBM has led to widespread memory shortages in recent quarters, driving up memory prices and increasing profits for memory chip makers.
SK Group Chairman Chae Tae-won Allegedly Stated in March 2026 that the global chip wafer shortage is likely to persist through 2030, as demand for HBM exceeds supply and strains manufacturing capacity.
He said it could take at least four to five years to build up additional wafer supply, with an estimated shortfall of more than 20%.
