SK Hynix third-quarter profit sharply beats estimates on AI memory boost

JUST IN: SK Hynix posts record quarterly profit that sharply beats estimates on surging AI memory demand, as revenue tops 100 trillion won for the first time and it announces over $25 billion in dividends and buybacks.

SK Hynix just grew its operating profit six hundred and thirty two percent in a year. Not sixty two. Six hundred and thirty two.

The Korean chipmaker posted a record quarter across the board, and you can see the scale of the operation here. Revenue topped one hundred trillion won for the first time ever, up over three hundred percent from last year, all of it riding the AI memory boom. Their high bandwidth memory chips are the ones that sit next to AI processors, the kind Nvidia can't buy fast enough.

And they're sharing the loot. More than twenty five billion dollars in dividends and buybacks, including a special dividend. They've already locked in fourteen major customers for over half their production capacity through 2028, and they say demand will outrun supply until 2030.

So the hardest fact tonight is this. One memory maker is now essentially sold out for the next two years, before the chips even exist.

This is Sara White, reporting for HIT.