D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Investing.com-- SK Hynix (KS:000660) shares jumped on Tuesday after bigger rival Samsung Electronics (KS:005930) forecast a steep drop in second-quarter profit, underscoring the strong demand for AI-driven memory chips that has buoyed the South Korean chipmaker.
Samsung said it expects Q2 operating profit to tumble about 56% to 4.6 trillion won ($3.3 billion), down from 10.4 trillion won a year ago—its weakest quarterly result in six periods.
The decline was blamed on U.S. export restrictions affecting AI chip sales to China and delays in delivering high-bandwidth memory (HBM) chips to NVIDIA Corporation (NASDAQ:NVDA).
By contrast, SK Hynix has gained ground in the lucrative AI chip market, benefiting from strong demand for its HBM modules. SK Hynix is projected to post its highest-ever quarterly earnings this month.
Seoul-listed SK Hynix shares climbed as much as 3.7% to 281,000 won, while Samsung shares were trading 0.8% lower at 61,200 won as of 02:40 GMT.
South Korea’s benchmark index KOSPI traded 0.2% lower on Tuesday.