SK Hynix reported a record second-quarter operating profit of 60.54 trillion won. This figure represents a surge of over 557% from the previous year. Revenue also hit a record 79.3 trillion won, a 257% year-over-year increase.
Robust demand for High Bandwidth Memory (HBM) used in artificial intelligence infrastructure drove the growth. However, both operating profit and revenue fell short of analyst consensus estimates.
The results follow a global sell-off in semiconductor stocks fueled by concerns over AI spending sustainability. SK Hynix maintains that AI demand is broadening and has secured multi-year supply agreements with key customers.