Chip Heavyweight Hynix’s Revenue Beats as AI Lifts Memory Demand
- AI boosting high-end chip sales, but overall demand still soft
- Chipmaker gearing up to expand output of high-capacity DRAM
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SK Hynix Inc.’s quarterly sales beat estimates, with the company declaring the beginnings of a recovery in the memory chip market thanks to surging interest in artificial intelligence.
The South Korean supplier to Apple Inc. and Nvidia Corp. now expects sales of its high-end DRAM chips to more than double this year to power storage-hungry AI applications. SK Hynix said it’s gearing up to push out more of those chips, even as the company vowed to continue to slash overall output.