SK Hynix Q2 2026 Results Overview
South Korea’s SK Hynix, the world’s second‑largest memory‑chipmaker (ticker KS:000660), reported a record second‑quarter operating profit of 60.54 trillion won (approximately $41.6 billion), representing more than a six‑fold increase from the same quarter a year earlier. Revenue surged 257 % year‑on‑year to 79.32 trillion won, while net profit climbed over 12‑fold to 93.92 trillion won.
The operating profit figure missed the LSEG SmartEstimate forecast of 64 trillion won, prompting a cautious market reaction. By 02:12 GMT, Seoul‑listed shares had declined nearly 9 %, reaching their lowest level since 4 May, a move compounded by a broader sell‑off in global AI and semiconductor equities.
Demand Outlook and Guidance
SK Hynix projected mid‑20 % year‑on‑year growth in 2026 DRAM bit demand and high‑teens growth for NAND demand. For the upcoming third quarter, the company expects DRAM bit shipments to rise about 10 % quarter‑on‑quarter and NAND shipments to increase by a low‑single‑digit percentage.
Product and Technology Updates
The firm announced that it began shipping HBM4 products in Q2 and will execute a full production ramp‑up in the second half of 2026, while also supplying HBM4E samples to a major customer. These high‑bandwidth memory (HBM) chips are critical for AI accelerators and are driving structural demand across industries.
Strategic Partnership
SK Hynix highlighted an expanded strategic partnership with Nvidia, including a long‑term agreement to co‑develop next‑generation AI memory. This collaboration is part of a broader $500 billion‑plus AI infrastructure initiative that underscores the company’s role as a key supplier to Nvidia.
Market Context
Management noted that AI adoption is broadening across sectors, fueling demand for high‑bandwidth memory, server DRAM, and enterprise SSDs. Although supply tightness is expected to ease gradually, major cloud service providers continue to expand AI‑infrastructure investments, supporting the company’s growth momentum.
Share Volatility
The report also mentioned that SK Hynix’s shares have been volatile following its Nasdaq listing earlier this month, reflecting heightened investor sensitivity to AI‑driven semiconductor trends.