AI chip giant SK hynix says quarterly operating profit soars 630%

The memory chip giant said it had posted record revenue and operating profit for six straight quarters since the second quarter of last year.

But the earnings fell behind market expectations. The average estimate of net profit by analysts stood at 59.67 trillion won, according to South Korea’s Yonhap news agency, citing its own data firm.

“SK hynix analyzed that a virtuous cycle has taken hold in which AI-driven productivity gains and new revenue generation in areas such as software development, customer service, and search lead to greater AI adoption,” the chipmaker said in a statement.