Investing com– South Korea’s SK Hynix Inc (KS:000660) on Thursday clocked a stronger-than-expected third-quarter income because the reminiscence chip titan noticed stable gross sales of its progressive chips for utilization in skilled system functions.
The firm, which is a major supplier to AI beloved NVIDIA Corporation (NASDAQ: NVDA), uploaded an working income of seven.03 trillion received ($ 5.07 billion) for the three months to September 30, better than Reuters approximates for a income of 6.8 trillion received. SK Hynix had truly logged a 1.8 trillion received loss in 2015.
SK Hynix’s revenue just about elevated to 17.57 trillion received. The firm said that want for reminiscence from the AI subject, significantly in data amenities, was a major motorist of its income.
The firm has truly been among the many most important recipients of the AI increase over the earlier yr, thought-about that it makes some of the progressive high-bandwith reminiscence chips which are utilized in AI chipsets. It is moreover the globe’s second-largest reminiscence chip producer by amount, behind Samsung Electronics Co Ltd (KS:005930).
HBM gross sales rose 70% from the earlier quarter and had been up 330% from in 2015, SK Hynix said.
Nvidia is a vital useful resource of this want, with SK Hynix primarily exceeding rivals Samsung and Micron Technology Inc (NASDAQ: MU) in present quarters on this sample.
The firm had in September said it had truly begun automation of its most up-to-date technology of HBM chips, that are some of the progressive reminiscence chips provided within the market.
Shares of the corporate had been buying and selling up just about 38% to this point in 2024, though they had been off report highs struck beforehand within the yr.
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