Nvidia supplier SK Hynix reports highest quarterly profit since 2018, driven by surging AI chip demand: Report

South Korea’s SK Hynix posted its highest quarterly profit since 2018 on Thursday as the Nvidia supplier said strong AI chip demand will only get stronger, such as for high bandwidth memory (HBM) used in generative AI chipsets.

“AI demand continues to grow above expectations… We expect next year’s HBM shipments to more than double this year’s,” Head of DRAM Marketing Kim Kyu Hyun said in an earnings call.