South Korea-based SK Hynix booked record revenue and operating profit in 2024, and forecast demand for high bandwidth memory (HBM) and high-density server chips to continue to rise as big tech companies boost investment in AI platforms.

In the consumer market, with an expected inventory adjustment in 2025, it predicts sales of PC and smartphones equipped with AI will expand, and the market to pick up in the second half.

It predicts HBM sales will more than double.

The chipmaker returned to the black in 2024, recording a net profit of KRW19.8 trillion ($13.8 billion), compared with a loss of KRW9.1 billion in 2023.

Revenue doubled to KRW66.2 trillion.

In the final quarter of 2024, it posted a net profit of KRW8 trillion compared with a KRW1.4 trillion loss.

Revenue grew 75 per cent to KRW19.8 trillion.

HBM chips accounted for more than 40 per cent of total DRAM revenue.

In an earnings statement, the company noted growth in demand for AI memory means the segment is transitioning into a customised market focused on high-performance products, enabling stable profit generation for memory companies.

SK Hynix stated spending on infrastructure will increase “meaningfully” in 2025 “due to new fab construction, though total capex increment will be limited”.