[News] AI Boosts HBM Demand, SK Hynix’s Q2 Profits Reach Six-Year High

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SK Hynix announced second-quarter revenue of 16.42 trillion Korean won, a 125% year-on-year increase, setting a historical record.

At the same time, profits reached their highest level since 2018. This was mainly due to strong demand for AI memory, including HBM, and overall price increases for DRAM and NAND products. AI storage products such as HBM and eSSD are thriving, with NAND turning a profit for two consecutive quarters.

As a key HBM supplier for Nvidia, SK Hynix’s HBM revenue surged by over 250%. The company stated in May that HBM capacity is almost sold out until 2025. With HBM’s growing importance in AI investment, SK Hynix plans to start mass production of 12-layer HBM3E products in the third quarter, solidifying its leadership in the HBM market.

Benefiting from bit demand growth, improved supply-demand structure driving up prices, and the rise of high-value-added products like HBM, TrendForce estimates that in 2024, HBM will contribute 5% of DRAM bit shipments and 20% of revenue.