SK Hynix Boom Signals AI Memory Crunch; Bitcoin Edges Up

SK Hynix reported record third-quarter revenue of 104.6 trillion won, up 328% year on year, and operating profit of 83.3 trillion won, up 632%. Its 80% operating margin exceeded expectations, although net income fell 58% from the previous quarter to 39.8 trillion won, partly due to currency and investment valuation losses. The chipmaker says DRAM and high-bandwidth memory (HBM) capacity is effectively sold out through 2029, with demand for HBM more than twice current supply. Long-term agreements with 14 major customers cover over half of planned production in 2027 and 2028. SK Hynix expects AI infrastructure demand to offset weaker PC and smartphone sales, and forecasts supply shortages could persist into 2030. The results helped lift South Korea’s KOSPI by 6.6%, with SK Hynix shares up 11% and Samsung Electronics up 9%. SK Hynix also announced 34 trillion won in third-quarter dividends and share buybacks, and expects shareholder returns of about 100 trillion won this year. Bitcoin briefly rose to around $81,700 as risk appetite improved, but its gain was modest compared with semiconductor stocks. For crypto traders, SK Hynix’s results reinforce the strength of AI infrastructure investment, while competition for memory, advanced packaging and electricity could raise costs for miners. The news is only a limited risk-on signal and does not directly indicate a change in crypto demand or market liquidity.