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SK Hynix Posts Record Third-Quarter Profit as AI Memory Demand Lifts Revenue 328%

SK Hynix reported a record operating profit of 83.3 trillion won for the third quarter, more than seven times the year-earlier figure, as demand for AI infrastructure pushed memory chip prices up.

By admin Oct. 28, 2026 · 10:42 AM ET 2 min read

Workers in white cleanroom suits working at machines inside a semiconductor fabrication plant

South Korean chipmaker SK Hynix reported a more than seven-fold rise in quarterly operating profit to a record high on Wednesday, beating market forecasts, as continued demand for AI infrastructure drove up memory chip prices, Reuters reported.

Operating profit for the July-September period was 83.3 trillion won, compared with 11.4 trillion won a year earlier, the company said. That compared with the 76.7 trillion won LSEG SmartEstimate, which is weighted toward estimates from analysts who are more consistently accurate. Quarterly revenue rose 328 percent to 104.6 trillion won. At the exchange rate cited by Reuters, $1 equals 1,326.09 won.

Close-up of black computer chips mounted on a green circuit board

Shareholder returns of about 100 trillion won

SK Hynix, a supplier to Nvidia, also said it will pursue shareholder returns totalling about 100 trillion won ($75.4 billion) this year, comprising cash dividends of 30 trillion won and share repurchases and cancellations of 60 trillion won, including 40 trillion won announced in August, Reuters reported.

Gloved hands holding a round silicon wafer patterned with circuits in a laboratory

Stocks rise ahead of U.S. tech earnings

Stocks in Asia rallied after the results, with South Korea’s Kospi index rising 6 percent, Reuters reported. The MSCI All-World index rose 0.2 percent, while U.S. stock futures edged up between 0.1 percent and 0.4 percent.

A long aisle of server racks with blinking lights in a data center

The AI rally faces its next test when Alphabet and Microsoft report earnings after the market close on Wednesday, Reuters reported. Investors will be looking for evidence of returns that would justify the heavy cost of the AI build-out. Kathleen Brooks, a director at XTB, told Reuters that investors want to see how the two companies are monetising their AI investments, and that the results could determine whether the tech rally keeps going. She warned that signs of weak returns on AI spending, or a slowdown in capital spending, could have wide effects.

A series of AI-related funding announcements from Meta, SpaceX and Broadcom this week has given new life to the AI trade, Reuters reported, with Anthropic’s filing for an initial public offering also providing support.

Reporting based on coverage by Reuters.

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