SK Hynix's AI-driven chip recovery boosts revenue

South Korean chipmaker SK Hynix reported a narrower second-quarter operating loss of 2.88 trillion Korean won ($2.24 billion) due to robust demand for artificial intelligence (AI) chips, signaling a recovery in the memory chip market. The company cited increased demand for AI server memory, driven by the expansion of the generative AI market, particularly in applications like ChatGPT. SK Hynix expects the demand for AI memory to remain strong and anticipates a rise in memory chip prices in the coming quarters.