SK Hynix Shares Jump 10% on Record Q3 Results as AI Memory Shortage Extends to 2030

SK Hynix (SKHY) shares rose more than 10% to $160 on Wednesday after the South Korean memory chipmaker reported record quarterly results, lifting Micron Technology (MU) and other semiconductor stocks in its wake. Third-quarter sales reached 104.62 trillion Korean won ($77.92 billion), surpassing the 100 trillion mark for the first time and beating the 99.5 trillion won analyst consensus. Operating profit of 83.33 trillion won topped estimates of 78.28 trillion won. SK Hynix said the AI-driven memory shortage will extend through 2030 due to the lead time required to add production capacity. It has signed long-term deals with 14 customers covering more than half of its output over the next two years. The company reiterated plans for 100 trillion won in shareholder returns this year, including roughly 30 trillion in dividends and 60 trillion in buybacks. Its board approved a new 20 trillion won buyback after completing a 40 trillion won program announced in August. The Roundhill Memory ETF (DRAM) rose about 5%.