SK Hynix reported record second-quarter revenue of $54.8 billion (79.3 trillion won) and operating profit of $41.8 billion (60.5 trillion won) on Wednesday, as strong demand for artificial intelligence (AI) servers lifted prices for high-bandwidth memory, server DRAM and enterprise solid-state drives. Revenue rose 257% from a year earlier, while operating profit increased 557%, producing an operating margin of 76%.

The company said customer demand continued to exceed available supply and that it had signed long-term agreements with around 10 major clients. SK Hynix began mass shipments of HBM4 during the quarter and plans to increase production in the second