Nvidia-supplier SK Hynix third-quarter profit jumps 62% to a record high on AI-fueled memory demand

Core Insights - SK Hynix reported record quarterly revenue and profit, driven by strong demand for high bandwidth memory (HBM) used in generative AI chipsets [1][2] - Revenue increased by approximately 39% year-on-year in the third quarter, while operating profit surged by 62% [1][2] Financial Performance - Revenue for the third quarter reached 24.45 trillion won ($17.13 billion), slightly below the forecast of 24.73 trillion won [5] - Operating profit was reported at 11.38 trillion won, marginally lower than the expected 11.39 trillion won [5] Market Position - SK Hynix has established itself as a key supplier of HBM chips, benefiting from the AI boom and increased investments in AI infrastructure [2][3] - The company has differentiated itself in the DRAM market by securing a leading position in HBM and becoming the main supplier for Nvidia, a leading AI processor manufacturer [4] - Competitors such as Micron and Samsung are actively working to catch up in the HBM space [4]