SEOUL (Reuters) -SK Hynix’s first-quarter profit more than doubled, driven by strong sales of advanced chips used in generative artificial intelligence chipsets and as some customers stockpiled semiconductors ahead of potential U.S. tariffs.
The Nvidia supplier reported a 7.4 trillion won ($5.19 billion) operating profit for the January-March period versus 2.9 trillion won a year earlier. That compared with a 6.6 trillion won average forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
Quarterly revenue for the South Korean firm rose 42% to 17.6 trillion won.
SK Hynix has been leading a global race to meet explosive demand for high bandwidth memory (HBM) chips, a crucial component of AI chipsets made by the likes of Nvidia which help process vast amounts of data to train AI models.
The firm has been a main HBM chip supplier to Nvidia, as its cross town rival Samsung Electronics has struggled to keep up in the race.
($1 = 1,426.4500 won)
(Reporting by Heekyong Yang and Joyce Lee; Editing by Himani Sarkar)
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