押注"AI内存超级周期"，SK海力士明年10纳米DRAM产量将增至8倍

Core Viewpoint - SK Hynix is significantly expanding its advanced memory chip production capacity, betting on the market opportunities arising from the shift of AI applications from training to inference [1][3]. Group 1: Production Capacity Expansion - SK Hynix plans to increase its sixth-generation 10nm DRAM monthly production capacity from approximately 20,000 wafers to 160,000-190,000 wafers, representing an increase of 8-9 times, which will account for over one-third of its total DRAM capacity [1][3]. - The company aims to add 140,000 wafers of monthly capacity at its Icheon plant through process upgrades, with some industry insiders suggesting potential increases to 160,000-170,000 wafers [4]. - Over one-third of SK Hynix's monthly average of 500,000 DRAM wafers will be allocated to advanced 1c DRAM production [5]. Group 2: Market Demand and Strategic Shift - The strategic adjustment reflects a surge in demand for cost-effective general DRAM due to the shift in AI applications, moving from high-bandwidth memory (HBM) to more broadly applicable AI memory markets [3][7]. - Advanced general DRAM is becoming the mainstream choice in AI inference applications due to its energy efficiency and cost-effectiveness compared to HBM [8]. - Major tech companies like NVIDIA, Google, OpenAI, and Amazon Web Services are developing custom AI accelerators that integrate large amounts of general DRAM [8]. Group 3: Financial Outlook - Industry insiders expect SK Hynix's facility investment to exceed 30 trillion KRW next year, a significant increase from the projected 25 trillion KRW this year [3]. - The company's operating profit is anticipated to exceed 70 trillion KRW next year, setting a historical record, driven by both HBM and general DRAM market dynamics [3][18]. - The profit margin for HBM4 is estimated to be around 60%, with projected sales of HBM reaching approximately 40-42 trillion KRW next year [17].