By Heekyong Yang and Hyunjoo Jin
SEOUL, July 29 (Reuters) - South Korean chipmaker SK Hynix reported **** per quarterly results on Wednesday but fell short of lofty investor expectations, heightening market concerns about slower AI spending by big tech firms.
To cushion itself against the industry's volatile demand cycles, the company is racing to lock in long-term supply deals .
The Nvidia supplier's quarterly operating profit soared more than sixfold to a record high, but it said delays in shipments of some advanced products limited price gains for its mainstay dynamic random access memory (DRAM) chips.
Shares in SK Hynix closed down 9.6% on Wednesday, as the weaker-than-expected earnings reinforced jitters about the sustainability of aggressive AI spending by tech firms. The benchmark KOSPI finished down 6%.
#wednesday #yang
SEOUL, July 29 (Reuters) - South Korean chipmaker SK Hynix reported **** per quarterly results on Wednesday but fell short of lofty investor expectations, heightening market concerns about slower AI spending by big tech firms.
To cushion itself against the industry's volatile demand cycles, the company is racing to lock in long-term supply deals .
The Nvidia supplier's quarterly operating profit soared more than sixfold to a record high, but it said delays in shipments of some advanced products limited price gains for its mainstay dynamic random access memory (DRAM) chips.
Shares in SK Hynix closed down 9.6% on Wednesday, as the weaker-than-expected earnings reinforced jitters about the sustainability of aggressive AI spending by tech firms. The benchmark KOSPI finished down 6%.
#wednesday #yang
3 months ago
