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 modern chips for utilization in knowledgeable system purposes.
The firm, which is a major supplier to AI beloved NVIDIA Corporation (NASDAQ: NVDA), uploaded an working income of seven.03 trillion gained ($ 5.07 billion) for the three months to September 30, larger than Reuters approximates for a income of 6.8 trillion gained. SK Hynix had truly logged a 1.8 trillion gained loss in 2015.
SK Hynix’s revenue nearly elevated to 17.57 trillion gained. The firm said that want for reminiscence from the AI area, significantly in info services, 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 one of the modern high-bandwith reminiscence chips which might be 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 have 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 era of HBM chips, that are one of the modern reminiscence chips provided within the market.
Shares of the corporate have been buying and selling up nearly 38% to date in 2024, though they have been off document highs struck beforehand within the yr.
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