SK hynix announces Q3 2024 financial results: breaking records once again, and cementing itself as the #1 AI memory technology provider in the world.

South Korea's SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier booked strong sales of its advanced chips, and said demand for high-bandwidth memory (HBM) chips would continue to outpace supply next year.

SK Hynix ( HXSCL, Financial ), the chip maker from South Korea, posted an operating profit of 7.03 trillion won ($5.1 billion) for the third quarter 2024, and revenues were nearly double the expectation.

SK Hynix posted record earnings in the third quarter as it continued to ride strong demand for powerful computing chips to support artificial-intelligence applications.

Driven by strong demand for AI-related memory products, Nvidia (NVDA, Financials) supplier SK hynix achieved record financial performance for the third quarter of 2024. With sales of 17.57 trillion won,

South Korea's SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier booked strong sales of its advanced chips, and said demand for high-bandwidth memory (HBM) chips would continue to outpace supply next year.

The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Oct. 24.

Nvidia Supplier SK Hynix posted record third-quarter profits driven by strong demand for its high-bandwidth memory used in generative AI. Revenue grew 94% year-over-year, slightly below analyst estimates.

SK Hynix, one of the world’s largest memory chipmakers, reported a record quarterly profit for the third quarter, driven by the surging demand for high bandwidth memory (HBM) used in generative AI. The South Korean company posted an operating profit of 7.