SK Hynix profit soars as demand rebounds

Mobile World Live— South Korea-based SK Hynix returned to profit in the opening quarter of 2024 after a string of quarterly losses, highlighting the memory market is entering into a full recovery cycle driven by demand for AI server products.

ZDNet—Memory maker SK Hynix's profit jump shows AI demand is going strong. South Korean memory maker SK Hynix returned to profitability in the first quarter after last year's downturn with flying colors backed by the AI boom.The chipmaker said on Thursday that it recorded 2.88 trillion won in operating profit in the January-March quarter, beating estimates of South Korean analysts by close to 40%. Its revenue also surged 144.3% to 12.42 trillion won, reflecting strong sales for memory chips across the board.SK Hynix is the main supplier of high-bandwidth memory (HBM)...

Tech Times—Samsung Profits Soar 930% on Memory Chip Boom and AI Demand. Samsung Electronics reported a strong Q1 2024 financial performance. Memory chip sales rebounded, driving operating profit by over 930%, driven by demand for AI-specific servers, memory chips, and storage solutions.

TechCrunch—Samsung's operating profit soars 930% as AI tailwinds drive demand for memory chips. Samsung Electronics said on Tuesday that its operating profit surged more than 930% in the first quarter of 2024, driven by soaring demand for its servers, memory chips and storage used in AI applications. The company, which struggled in 2023 as the macroeconomic slowdown hurt demand for its products, said its memory chip business returned to […] © 2024 TechCrunch. All rights reserved. For personal use only.