SK Hynix posts record profit in Q2, flags sustained AI memory demand

SEOUL: South Korean chipmaker SK Hynix reported bumper quarterly results on Wednesday but fell short of lofty investor expectations fuelled by the AI boom, with the company racing to secure long-term supply deals to cushion the memory industry’s volatile demand cycles.

The Nvidia supplier’s quarterly operating profit soared more than sixfold to a record high, but slower shipment growth in its advanced memory chips used in AI data centres contributed ‌to smaller- than-expected ⁠earnings.