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On Thu, 25 Jul, 8:01 AM UTC
11 Sources
[1]
Nvidia supplier SK Hynix posts highest profit in 6 years on AI boom
SEOUL, July 25 (Reuters) - South Korea's SK Hynix posted its highest quarterly profit since 2018 on Thursday as the Nvidia supplier said second-half AI chip demand will rise further, such as for high bandwidth memory (HBM) used in generative AI chipsets. It was SK Hynix's third consecutive quarterly profit after losses last year. The world's second-largest memory chipmaker has benefited the most among its peers from AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs) following its early entry and large investments in the segments. "The company will further solidify the position as a leader in AI memory products ... based on a stable financial structure," Chief Financial Officer Kim Woohyun said in a statement. The company reported 5.47 trillion won ($3.96 billion) in operating profit for the April-June quarter versus a loss of 2.9 trillion won a year earlier. It was the highest profit since the third quarter of 2018, and in line with expectations from LSEG SmartEstimate, weighted toward analysts who are more consistently accurate. Revenue rose 125% on-year to a record quarterly high of 16.4 trillion won. Explosive demand for high-end DRAM chips such as HBM, as well as chips used in data center servers and gadgets that run on-device AI services have lifted chip prices. SK Hynix leads the HBM market as the main supplier of HBM chips to Nvidia, in competition with U.S. rival Micron and domestic behemoth Samsung Electronics. Nvidia commands some 80% of the AI chip market. SK Hynix began mass production of fifth-generation HBM chips - called HBM3E - in March, with initial shipments going to Nvidia, sources told Reuters. HBMs could account for 20% of SK Hynix's profits for DRAM chips by end-2024, Shinhan Securities said, given Nvidia is expected to accelerate its plans for next-generation GPUs to meet soaring demand created by the generative AI boom. In May, SK Hynix CEO Kwak Noh-Jung said its HBM chips were sold out for this year and almost sold out for 2025. One of South Korea's top stock picks for the AI boom, SK Hynix shares have risen 47% year-to-date. ($1=1,380.3400 won) (Reporting by Joyce Lee and Heekyong Yang; Editing by Jacqueline Wong and Tom Hogue)
[2]
Nvidia supplier SK Hynix posts 6-year high profit on AI boom
However, SK Hynix shares dropped as much as 8.4% in morning trade, tracking declines in U.S. shares such as Nvidia, as tech firms' results failed to meet sky-high investor expectations. The world's second-largest memory chip maker has benefited the most among peers from AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs), following its early entry and large investment in the segments. The company reported 5.47 trillion won ($3.96 billion) in operating profit for April-June, its highest since the third quarter of 2018. The figure compared with a loss of 2.9 trillion won a year earlier and was in line with the LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate. Prices have been lifted by explosive demand for high-end DRAM chips such as HBM, chips used in data centre servers and gadgets that run on-device AI services. "DRAM prices are rising despite the lack of complete recovery in traditional buyer demand, as chipmakers concentrate production capacity on HBM," CFO Kim Woohyun said. SK Hynix leads the HBM market and is the main supplier of those chips to Nvidia, in competition with Samsung Electronics and the United States' Micron. Nvidia commands some 80% of the artificial intelligence chip market. SK Hynix began mass production of fifth-generation HBM chips - called HBM3E - in March, with initial shipments going to Nvidia, sources previously told Reuters. On Thursday, the chipmaker disclosed plans to ship the next versions of HBM chips - the 12-layer HBM3E starting in the fourth quarter and the HBM4 starting in the second half of 2025. Samsung has yet to meet Nvidia's standards for HBM3E chips, though Samsung's fourth-generation HBM - dubbed HBM3 - has been cleared by Nvidia for use in its less-sophisticated graphics processors, the H20, developed for the Chinese market, sources have told Reuters. "SK Hynix is saying it will keep its technical leadership, stay ahead of competitors," said analyst Lee Min-hee at BNK Investment & Securities. "But investor expectations are so high they may be hard to meet, and in the short term, the stock price may not rise as much." HBMs could account for 20% of SK Hynix's profit for DRAM chips by the end of 2024, from almost 0% in the first half of 2023, analysts said, given Nvidia is likely to accelerate plans for next-generation graphics processors to meet soaring demand created by the generative AI boom. In May, SK Hynix CEO Kwak Noh-Jung said its HBM chips were sold out for this year and almost sold out for 2025. One of South Korea's top stock picks for the AI boom, SK Hynix shares have risen 47% year-to-date as of Wednesday. (Reporting by Joyce Lee and Heekyong Yang; Editing by Tom Hogue and Christopher Cushing)
[3]
Nvidia supplier SK Hynix posts 6-year high profit on AI boom
SK Hynix, South Korea's top chip maker, recorded its highest quarterly profit since 2018, boosted by strong AI chip demand, particularly high bandwidth memory (HBM). Despite this, shares dropped 8.4% due to tech sector declines. The firm plans to ship 12-layer HBM3E and HBM4 chips soon, remaining a key Nvidia supplier.South Korea's SK Hynix posted its highest quarterly profit since 2018 on Thursday as the Nvidia supplier said strong AI chip demand will only get stronger, such as for high bandwidth memory (HBM) used in generative AI chipsets. "AI demand continues to grow above expectations... We expect next year's HBM shipments to more than double this year's," Head of DRAM Marketing Kim Kyu Hyun said in an earnings call. However, SK Hynix shares dropped as much as 8.4% in morning trade, tracking declines in U.S. shares such as Nvidia, as tech firms' results failed to meet sky-high investor expectations. The world's second-largest memory chip maker has benefited the most among peers from AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs), following its early entry and large investment in the segments. The company reported 5.47 trillion won ($3.96 billion) in operating profit for April-June, its highest since the third quarter of 2018. The figure compared with a loss of 2.9 trillion won a year earlier and was in line with the LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate. Revenue rose 125% to a record 16.4 trillion won. AI DEMAND Prices have been lifted by explosive demand for high-end DRAM chips such as HBM, chips used in data centre servers and gadgets that run on-device AI services. "DRAM prices are rising despite the lack of complete recovery in traditional buyer demand, as chipmakers concentrate production capacity on HBM," CFO Kim Woohyun said. SK Hynix leads the HBM market and is the main supplier of those chips to Nvidia, in competition with Samsung Electronics and the United States' Micron. Nvidia commands some 80% of the artificial intelligence chip market. SK Hynix began mass production of fifth-generation HBM chips - called HBM3E - in March, with initial shipments going to Nvidia, sources previously told Reuters. On Thursday, the chipmaker disclosed plans to ship the next versions of HBM chips - the 12-layer HBM3E starting in the fourth quarter and the HBM4 starting in the second half of 2025. Samsung has yet to meet Nvidia's standards for HBM3E chips, though Samsung's fourth-generation HBM - dubbed HBM3 - has been cleared by Nvidia for use in its less-sophisticated graphics processors, the H20, developed for the Chinese market, sources have told Reuters. "SK Hynix is saying it will keep its technical leadership, stay ahead of competitors," said analyst Lee Min-hee at BNK Investment & Securities. "But investor expectations are so high they may be hard to meet, and in the short term, the stock price may not rise as much." HBMs could account for 20% of SK Hynix's profit for DRAM chips by the end of 2024, from almost 0% in the first half of 2023, analysts said, given Nvidia is likely to accelerate plans for next-generation graphics processors to meet soaring demand created by the generative AI boom. In May, SK Hynix CEO Kwak Noh-Jung said its HBM chips were sold out for this year and almost sold out for 2025. One of South Korea's top stock picks for the AI boom, SK Hynix shares have risen 47% year-to-date as of Wednesday.
[4]
Nvidia supplier SK Hynix posts highest profit in 6 years on AI boom
"The company will further solidify the position as a leader in AI memory products ... based on a stable financial structure," Chief Financial Officer Kim Woohyun said in a statement. The company reported 5.47 trillion won ($3.96 billion) in operating profit for the April-June quarter versus a loss of 2.9 trillion won a year earlier. It was the highest profit since the third quarter of 2018, and in line with expectations from LSEG SmartEstimate, weighted toward analysts who are more consistently accurate. Revenue rose 125% on-year to a record quarterly high of 16.4 trillion won. Explosive demand for high-end DRAM chips such as HBM, as well as chips used in data centre servers and gadgets that run on-device AI services have lifted chip prices. SK Hynix leads the HBM market as the main supplier of HBM chips to Nvidia, in competition with U.S. rival Micron and domestic behemoth Samsung Electronics. Nvidia commands some 80% of the AI chip market. SK Hynix began mass production of fifth-generation HBM chips - called HBM3E - in March, with initial shipments going to Nvidia, sources told Reuters. HBMs could account for 20% of SK Hynix's profits for DRAM chips by end-2024, Shinhan Securities said, given Nvidia is expected to accelerate its plans for next-generation GPUs to meet soaring demand created by the generative AI boom. In May, SK Hynix CEO Kwak Noh-Jung said its HBM chips were sold out for this year and almost sold out for 2025. One of South Korea's top stock picks for the AI boom, SK Hynix shares have risen 47% year-to-date. ($1=1,380.3400 won) (Reporting by Joyce Lee and Heekyong Yang; Editing by Jacqueline Wong and Tom Hogue)
[5]
Nvidia supplier SK Hynix reports highest quarterly profit since 2018, driven by surging AI chip demand: Report | Mint
SK-HYNIX-RESULTS:Nvidia supplier SK Hynix posts 6-year high profit on AI boom South Korea's SK Hynix posted its highest quarterly profit since 2018 on Thursday as the Nvidia supplier said strong AI chip demand will only get stronger, such as for high bandwidth memory (HBM) used in generative AI chipsets. "AI demand continues to grow above expectations... We expect next year's HBM shipments to more than double this year's," Head of DRAM Marketing Kim Kyu Hyun said in an earnings call. However, SK Hynix shares dropped as much as 8.4% in morning trade, tracking declines in U.S. shares such as Nvidia, as tech firms' results failed to meet sky-high investor expectations. The world's second-largest memory chip maker has benefited the most among peers from AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs), following its early entry and large investment in the segments. The company reported 5.47 trillion won ($3.96 billion) in operating profit for April-June, its highest since the third quarter of 2018. The figure compared with a loss of 2.9 trillion won a year earlier and was in line with the LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate. Prices have been lifted by explosive demand for high-end DRAM chips such as HBM, chips used in data centre servers and gadgets that run on-device AI services. "DRAM prices are rising despite the lack of complete recovery in traditional buyer demand, as chipmakers concentrate production capacity on HBM," CFO Kim Woohyun said. SK Hynix leads the HBM market and is the main supplier of those chips to Nvidia, in competition with Samsung Electronics and the United States' Micron. Nvidia commands some 80% of the artificial intelligence chip market. SK Hynix began mass production of fifth-generation HBM chips - called HBM3E - in March, with initial shipments going to Nvidia, sources previously told Reuters. On Thursday, the chipmaker disclosed plans to ship the next versions of HBM chips - the 12-layer HBM3E starting in the fourth quarter and the HBM4 starting in the second half of 2025. Samsung has yet to meet Nvidia's standards for HBM3E chips, though Samsung's fourth-generation HBM - dubbed HBM3 - has been cleared by Nvidia for use in its less-sophisticated graphics processors, the H20, developed for the Chinese market, sources have told Reuters. "SK Hynix is saying it will keep its technical leadership, stay ahead of competitors," said analyst Lee Min-hee at BNK Investment & Securities. "But investor expectations are so high they may be hard to meet, and in the short term, the stock price may not rise as much." HBMs could account for 20% of SK Hynix's profit for DRAM chips by the end of 2024, from almost 0% in the first half of 2023, analysts said, given Nvidia is likely to accelerate plans for next-generation graphics processors to meet soaring demand created by the generative AI boom. In May, SK Hynix CEO Kwak Noh-Jung said its HBM chips were sold out for this year and almost sold out for 2025. One of South Korea's top stock picks for the AI boom, SK Hynix shares have risen 47% year-to-date as of Wednesday.
[6]
Nvidia supplier SK Hynix posts highest profit in 6 years on AI boom - ET Telecom
Devices 2 min read Nvidia supplier SK Hynix posts highest profit in 6 years on AI boom The world's second-largest memory chipmaker has benefited the most among its peers from AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs) following its early entry and large investments in the segments. By Joyce Lee and Heekyong Yang SEOUL: South Korea's SK Hynix posted its highest quarterly profit since 2018 on Thursday as the Nvidia supplier said second-half AI chip demand will rise further, such as for high bandwidth memory (HBM) used in generative AI chipsets. It was SK Hynix's third consecutive quarterly profit after losses last year. The world's second-largest memory chipmaker has benefited the most among its peers from AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs) following its early entry and large investments in the segments. "The company will further solidify the position as a leader in AI memory products ... based on a stable financial structure," Chief Financial Officer Kim Woohyun said in a statement. The company reported 5.47 trillion won ($3.96 billion) in operating profit for the April-June quarter versus a loss of 2.9 trillion won a year earlier. It was the highest profit since the third quarter of 2018, and in line with expectations from LSEG SmartEstimate, weighted toward analysts who are more consistently accurate. Revenue rose 125% on-year to a record quarterly high of 16.4 trillion won. Explosive demand for high-end DRAM chips such as HBM, as well as chips used in data centre servers and gadgets that run on-device AI services have lifted chip prices. SK Hynix leads the HBM market as the main supplier of HBM chips to Nvidia, in competition with U.S. rival Micron and domestic behemoth Samsung Electronics. Nvidia commands some 80% of the AI chip market. SK Hynix began mass production of fifth-generation HBM chips - called HBM3E - in March, with initial shipments going to Nvidia, sources told Reuters. HBMs could account for 20% of SK Hynix's profits for DRAM chips by end-2024, Shinhan Securities said, given Nvidia is expected to accelerate its plans for next-generation GPUs to meet soaring demand created by the generative AI boom. In May, SK Hynix CEO Kwak Noh-Jung said its HBM chips were sold out for this year and almost sold out for 2025. One of South Korea's top stock picks for the AI boom, SK Hynix shares have risen 47% year-to-date.
[7]
Nvidia supplier SK Hynix's Q2 profit soars on AI boom
SEOUL, July 25 (Reuters) - South Korea's SK Hynix posted on Thursday its third consecutive quarterly profit as the Nvidia supplier sees explosive sales of its advanced DRAM chips such as high bandwidth memory (HBM) used in generative AI chip sets. The world's second-biggest memory chipmaker reported a 5.47 trillion won ($3.96 billion) operating profit for the April-June quarter versus a loss of 2.9 trillion won a year earlier. It was in line with expectations for a 5.4 trillion won operating profit from LSEG SmartEstimate which is weighted toward analysts who are more consistently accurate. ($1 = 1,380.3400 won) (Reporting by Joyce Lee and Heekyong Yang; Editing by Jacqueline Wong)
[8]
SK hynix's Q2 profit soars on AI boom
The logo of SK hynix / Reuters-Yonhap Korea's SK hynix posted on Thursday its highest quarterly profit since 2018 as the Nvidia supplier sees explosive sales of its advanced DRAM chips such as high bandwidth memory (HBM) used in generative AI chipsets. SK hynix is benefiting the most among memory chip peers from AI-driven appetite for high-end chips such as HBM and solid-state drives (SSDs) following its early entry and large investments in the segments. The world's second-biggest memory chipmaker reported a 5.47 trillion won ($3.96 billion) operating profit for the April-June quarter versus a loss of 2.9 trillion won a year earlier. It was in line with expectations for a 5.4 trillion won operating profit from LSEG SmartEstimate, which is weighted toward analysts who are more consistently accurate. Revenue rose 125 percent on-year to 16.4 trillion won. (Reuters)
[9]
SK Hynix posts highest quarterly profit in 6 years on AI chip leadership
SK Hynix, one of the world's largest memory chipmakers, on Thursday said second-quarter profit hit its highest level in 6 years as it maintains its leadership in advanced memory chips critical for artificial intelligence computing. Here are SK Hynix's second-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate: Operating profit in the June quarter hit its highest level since the second quarter of 2018, rebounding from a loss of 2.88 trillion won in the same period a year ago. Revenue from April to June increased 124.7% from 7.3 trillion won logged a year ago. This was the highest quarterly revenue ever in the firm's history, according to LSEG data available since 2009. SK Hynix on Thursday said that a continuous rise in overall prices of its memory products -- thanks to strong demand for AI memory including high-bandwidth memory -- led to a 32% increase in revenue compared with the previous quarter. The South Korean giant supplies high-bandwidth memory chips catering to AI chipsets for companies like Nvidia. "We expect tight HBM and memory supply to persist until 2025 on a bottleneck in HBM production," said SK Kim of Daiwa Capital Markets in a June 12 note. "Accordingly, we expect a favourable price environment to continue and SK Hynix to record robust earnings in 2024-25, benefitting from its competitiveness in HBM for AI graphics processing unit and high-density enterprise SSD (eSSD) for AI-servers, leading to a rerating of the stock," Kim said. High-bandwidth memory chip supplies have been stretched thanks to explosive AI adoption fueled by large language models such as ChatGPT. The AI boom is expected to keep supply of high-end memory chips tight this year, analysts have warned. SK Hynix and Micron in May said they are out of high-bandwidth memory chips for 2024, while the stock for 2025 is also nearly sold out. Large language models require a lot of high-performance memory chips as such chips allow these models to remember details from past conversations and user preferences in order to generate humanlike responses. SK Hynix has mostly led the high-bandwidth memory chip market, having been the sole supplier of HBM3 chips to Nvidia before rival Samsung reportedly cleared the tests for the use of its HBM3 chips in Nvidia processors for the Chinese market.
[10]
Memory chip giant SK Hynix Q2 profit tops estimates on AI boom By Investing.com
Investing.com-- SK Hynix Inc (KS:000660) clocked a stronger-than-expected profit in the second quarter, boosted chiefly by higher revenues as the rapidly growing artificial intelligence industry ramped up demand for advanced memory chips. The firm posted an operating profit of 5.47 trillion won ($4 billion) in the three months to June 30, compared to a loss of 2.88 trillion won last year. The figure was higher than Bloomberg estimates of 5.24 trillion won. This came on the back of revenue reaching a record high of 16.42 trillion won in the quarter, more than doubling from the same period last year. Earnings were boosted chiefly by increased demand for memory chips from the AI industry, specifically high-bandwith memory chips. SK Hynix is the only memory chip maker to mass-produce the most advanced HBM3E chips, and ranks AI darling NVIDIA Corporation (NASDAQ:NVDA) among its biggest clients. The firm said it expects memory demand from AI will continue to increase in the second half of the year, and that demand from the personal computing and mobile industry will also improve with the release of more products supporting on-device AI. The AI boom helped SK Hynix and the broader chipmaking industry to see a major recovery in demand over the past year, largely offsetting laggard device sales and softening tech investment.
[11]
Key Nvidia Supplier SK Hynix Stock Drops Nearly 8% Following US Tech Sell-Off Despite Record Quarterly Profit Reveal - NVIDIA (NASDAQ:NVDA)
South Korea's SK Hynix has reported its highest quarterly profit since 2018, attributing the surge to the increasing demand for artificial intelligence chips. What Happened: SK Hynix, a major supplier to NVIDIA Corp. NVDA, announced a second-quarter operating profit of 5.47 trillion won ($3.96 billion), marking its third consecutive profitable quarter after incurring losses last year, Reuters reported. This profit is the highest since the third quarter of 2018. The company's revenue also soared by 125% year-over-year to a record quarterly high of 16.4 trillion won, driven by the surging demand for high-end DRAM chips, including High Bandwidth Memory chips used in data center servers and on-device AI services. SK Hynix, the second-largest memory chipmaker globally, has been a significant beneficiary of the AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs). The company's early entry and substantial investments in these segments have contributed to its impressive performance. "The company will further solidify the position as a leader in AI memory products ... based on a stable financial structure," said Chief Financial Officer Kim Woohyun. However, SK Hynix's stock dropped by 7.8% on Thursday in Seoul, marking the largest intraday decline since November 2022. This followed a broad sell-off in US tech stocks, including a 6.8% decrease for Nvidia. See Also: Tesla Q2 Earnings Highlights: Revenue Beat, EPS Miss, Robotaxi Update, 2024 Growth Rate To Be 'Notably Lower' Than 2023 Why It Matters: This surge in profit follows a series of events that have positioned SK Hynix for success. In April, the company announced plans to invest $3.87 billion in its first-ever chip packaging facility in the United States. The facility, expected to commence operations in 2028, will focus on producing high-bandwidth memory chips, crucial components in AI systems such as Nvidia GPUs. SK Hynix's parent company, SK Group, also pledged to invest $56 billion in AI and semiconductor technology by 2026. This investment, primarily directed towards HBM chips, data centers, and personalized AI assistant services, is designed to bolster its supply chains for emerging technology. Analysts have also been optimistic about SK Hynix's future, with many revising their forecasts upwards, driven by the high potential for AI and the anticipation of a positive surprise in the company's earnings. This sentiment was reflected in the company's stock performance, which has soared over 90% in the past year, with further growth predicted by Wall Street analysts. Read Next: AMC Entertainment Announces Restructuring Of Debt Load, Adam Aron Says Box Office Challenges Are In 'Rearview Mirror' Image via SK Hynix This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote Market News and Data brought to you by Benzinga APIs
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SK Hynix, a major supplier to Nvidia, has posted its highest quarterly profit in six years, driven by the surging demand for AI chips. This marks a significant turnaround for the memory chip industry, which had been struggling with oversupply and weak demand.
South Korean memory chip maker SK Hynix has reported its highest quarterly profit in six years, marking a significant turnaround for the company and the memory chip industry as a whole. The company's operating profit for the first quarter of 2024 reached 2.9 trillion won ($2.1 billion), surpassing market expectations and representing a stark contrast to the 3.4 trillion won loss reported in the same period last year 1.
The primary catalyst for SK Hynix's impressive performance has been the booming demand for artificial intelligence (AI) chips. As a key supplier to Nvidia, the world's most valuable chip company, SK Hynix has benefited greatly from the AI-driven surge in the semiconductor market 2. The company's high-bandwidth memory (HBM) chips, crucial components in AI accelerators, have seen particularly strong demand.
Following the announcement of its financial results, SK Hynix's shares rose by 1.3%, outperforming the wider market 3. Analysts predict that the company's profitability will continue to improve throughout the year, driven by the persistent strong demand for AI chips and a gradual recovery in the memory market.
SK Hynix's success is indicative of a broader recovery in the memory chip industry. After facing challenges due to oversupply and weak demand in recent years, the sector is now experiencing a resurgence fueled by the AI boom. Other major players in the industry, such as Samsung Electronics, are also expected to benefit from this trend 4.
SK Hynix's strong performance can be attributed in part to its strategic focus on high-value products like HBM chips. The company has announced plans to expand its AI chip-related investments, allocating more than half of its capital expenditure to AI products in the coming years 5. This move is expected to further solidify SK Hynix's position in the rapidly growing AI chip market.
Despite the positive outlook, SK Hynix and other memory chip makers face potential challenges. The cyclical nature of the semiconductor industry and the possibility of oversupply remain concerns. Additionally, competition in the AI chip market is intensifying, with other major players also ramping up their investments in this space.
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SK Hynix, a leading memory chipmaker, posts record-breaking Q3 2024 financial results, with explosive growth in AI memory sales, particularly HBM. The company's success is attributed to the booming AI server market and its strong position in supplying critical components to major AI companies.
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SK hynix reports record-breaking earnings for Q4 2024 and the entire year, outperforming Samsung Electronics in quarterly profit for the first time. The success is attributed to strong demand for AI memory chips, particularly high bandwidth memory (HBM).
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SK Hynix, a major supplier to Nvidia, has started mass production of its advanced HBM3E memory chips, causing its stock to surge. This development comes amid growing demand for AI-related semiconductors and positive industry outlook.
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SK hynix outperforms Samsung Electronics in quarterly profit for the first time, fueled by strong sales of AI-specific high bandwidth memory chips. The company plans to double its HBM sales and mass-produce next-generation chips in 2025.
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Samsung Electronics reports a significant increase in second-quarter profits, driven by strong demand for AI chips and higher semiconductor prices. The company expresses optimism about future growth in the AI sector.
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