SK Hynix reported a record 60.5 trillion won ($41.6 billion) operating profit for the second quarter. This figure represents a 557% surge from the previous year. Revenue more than tripled to 79.3 trillion won.
Intense demand for high-bandwidth memory (HBM) used in AI data centers drove the growth. However, the results fell short of market expectations.
Analysts attribute the miss to the company’s focus on high-end AI chips over conventional memory. This strategy limited gains from a price rally in standard chips compared to competitors.
The performance coincides with investor concerns regarding AI infrastructure spending. Global semiconductor stocks are currently experiencing a broad sell-off.