SK hynix has just seen one of its best financial quarters in history, marking a staggering 94% growth in revenue compared to last year. SK hynix credits the ever-rising demand for memory in the AI market as it leaps over its competitors with the development of its HBM3E offerings. The company's net income, which was in the red throughout 2023 is steadily rising this year with a 40% spike quarter over quarter.
Being one of the key memory suppliers to Nvidia and AMD has been crucial for all memory makers due to the potential growth in the AI industry. Much of these profits are likely the result of SK hynix leapfrogging Samsung and Micron in securing HBM3E contracts for Nvidia's Blackwell GPUs. Similarly, just last month, SK hynix began mass production of 12-Hi HBM3E for Blackwell Ultra (B300) products and AMD's MI325X series. SK hynix says that the catalyst behind its highest-ever revenue since inception is the expansion of its HBM and eSSD offerings and an overall stronger foothold in the memory market. Quarterly, HBM sales by SK hynix increased by 70% and a whopping 330% when compared to last year.
