While it expects its annual capital expenditure to be higher than planned earlier this year, SK said it will closely monitor customer demand and market trends to maintain its financial soundness.“We were able to reduce our borrowings by 4.3 trillion won compared to the first quarter while continuing to make essential investments,” said Chief Financial Officer Kim Woo-hyun.“We will solidify our position as the AI chip leader based on a stable financial structure.”(Updated with SK’s plan to supply 12-layer HBM3E chips to Nvidia and analysts' comments)By Chae-Yeon Kim and Eui-Myung Parkwhy29@hankyung.comIn-Soo Nam edited this article.
The company attributed its spectacular results to robust sales of its premium products for artificial intelligence, including high bandwidth memory (HBM) chips, and increased demand for high-end NAND flash memory chips.“HBM sales went up by over 80% compared to the previous quarter and over 250% from a year ago,” SK Hynix said in a statement.
Analysts expect SK Hynix’s profits to continue to grow for the rest of the year, buoyed by more advanced AI chips, 12-layer HBM3E, which the chipmaker plans to begin supplying to Nvidia Corp.in large quantities from the fourth quarter.
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