SK Hynix Reports Record Revenue and Profit Growth Driven by AI Memory Demand

The South Korean chipmaker saw a 102% revenue surge in 2024, fueled by high-bandwidth memory sales for AI applications, but stock prices dipped slightly.

SK Hynix's 2024 revenue reached ₩66.19 trillion ($46.34 billion), a 102% increase from 2023, with a net profit of ₩19.79 trillion ($13.84 billion).
The company's fourth-quarter operating profit of ₩8.1 trillion ($5.64 billion) surpassed Samsung's and marked a record high, driven by strong demand for high-bandwidth memory (HBM) chips.
HBM products, including HBM3 and HBM3E, accounted for over 40% of SK Hynix's DRAM revenue, solidifying its position as a key supplier to Nvidia and other AI-focused companies.
SK Hynix plans to expand HBM3E production, develop HBM4, and advance DDR5 and LPDDR5 technologies to meet growing AI-driven demand.
Despite its financial success, SK Hynix's stock price dipped 3.1% on Thursday, though it has risen 55% over the past year.