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A logo of Semiconductor and memory chip company SK Hynix during the company's debut at the Nasdaq market in New York City, U.S., July 10, 2026. REUTERS/Angelina Katsanis/File Photo Purchase Licensing Rights, opens new tab
SEOUL, July 29 (Reuters) - South Korean chipmaker SK Hynix (000660.KS), opens new tab reported a more than sixfold increase in quarterly operating profit to a record high on Wednesday, driven by robust demand for advanced memory chips as big technology firms ramped up spending on AI data centres.
The Nvidia (NVDA.O), opens new tab supplier reported an operating profit of 60.5 trillion won ($41.62 billion) for the April-June period, compared with 9.2 trillion won a year earlier. But it missed a 64 trillion won forecast by LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate.
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"Driven by sustained demand growth from expanding AI infrastructure investments, high-performance products for AI servers led price increases, enabling the company to surpass its previous record set in the prior quarter," SK Hynix said in a statement.
SK Hynix missed analysts' forecasts because its higher exposure to high-end memory chips used in AI data centres than rivals meant it benefited less from a stronger price rally in conventional memory chips.
The company said its quarterly revenue rose 257% to 79.3 trillion won.
($1 = 1,453.7200 won)
Reporting by Heekyong Yang and Joyce Lee; Editing by Jamie Freed
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