South Korea's SK Hynix announced a record first-quarter operating profit, marking a 406% increase year-over-year. The surge is attributed to the booming artificial intelligence sector, which has significantly boosted demand for both advanced and conventional memory chip products.
SK Hynix stated that the evolution of AI, from large model training to real-time inference across diverse services, is expanding the foundation for memory demand in both DRAM and NAND flash technologies.
The company reported an operating profit of 37.6 trillion won ($25.42 billion) for the January-March period, aligning with market forecasts. Quarterly revenue also saw a substantial rise of 198% to 52.6 trillion won.