SK Hynix said it expects a full recovery in the memory market, led by surging AI-related demand.
SK Hynix said it expects a full recovery in the memory market, led by surging AI-related demand, and lifted its capital spending plans.
SK Hynix earlier said it’s investing some $15 billion in South Korea to meet surging demand for such high-end chips, on top of a plan to spend $3.9 billion on an advanced packaging plant and research center for artificial intelligence products in Indiana. That more than doubled the world’s No. 2 memory maker’s quarterly sales, the company’s fastest pace of revenue expansion in over a decade, while operating profit blew past estimates.
Investment in 2024 will be slightly higher than planned at the start of the year, with the bulk of spending to focus on high-margin products and infrastructure for medium-term growth, Kim said.“We will balance investing in future growth with ensuring financial soundness, given our current level of cash generation.”
Memory Chip Memory Chip Sales Memory Manufacturers Nvidia SK Hynix AI Hardware
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