Business & Finance
Samsung, SK Hynix Answer AI Doubters With Big Numbers and Deals
Key Points
Samsung, SK Hynix Answer AI Doubters With Big Numbers and Deals In a remarkable week, the titans of the near-$1 trillion global memory industry smashed profit records. But they were unable to reverse a market rout that’s erased much of their stocks’ gains this year.
Samsung, SK Hynix Answer AI Doubters With Big Numbers and Deals
In a remarkable week, the titans of the near-$1 trillion global memory industry smashed profit records. But they were unable to reverse a market rout that’s erased much of their stocks’ gains this year.
In the June quarter, Samsung Electronics Co. and SK Hynix Inc. — whose revenues make up 80% of the memory sector — generated a staggering 150 trillion won ($104 billion) in combined operating profit in a single quarter, driven almost entirely by AI’s demand for advanced memory and storage devices. For the full year, SK Hynix alone is projected to earn more in profits than it’s made in the prior 27 years combined.