SK Hynix reports record Q2 profit on AI chip supercycle; 557% earnings surge YoY

SK hynix Inc. reported record-high revenue and operating profit for the second quarter, driven by surging demand for high-bandwidth memory (HBM) chips and other memory products.

Net profit reached 93.92 trillion won (US$64.6 billion) for the April-June period, up 1,242.5 percent year-over-year. Operating income jumped 557.2 percent to 60.54 trillion won, while sales climbed 256.8 percent to 79.31 trillion won.

The company achieved an operating profit margin of 76 percent in the second quarter, compared with 75 percent in the prior quarter. These results significantly exceeded analyst expectations, with the average estimate for net profit standing at 63.55 trillion won according to a Yonhap Infomax survey.

The strong earnings come as investors reassess concerns about an artificial intelligence bubble and potential peak demand for AI chips—anxieties that recently triggered sharp declines in technology stocks. SK hynix's performance is expected to help ease those worries.

SK hynix has secured its leadership position in HBM through early development of these advanced chips, establishing itself as a key supplier to Nvidia amid surging demand for AI accelerators. According to Counterpoint Research, SK hynix held 58 percent of the global HBM market by revenue in the first quarter, maintaining its position as the industry leader. Samsung Electronics and Micron Technology each captured 21 percent of the market.

This HBM dominance propelled SK hynix past Samsung Electronics to become South Korea's most valuable listed company by market capitalization in June—a milestone not achieved for 25 years.