SK Hynix returned to profit in Q1 on AI chip leadership

SEOUL -- SK Hynix returned to profit in the first quarter thanks to its leadership in advanced memory chips critical for artificial intelligence computing, recovering from a long slump in the memory market.

The world's second-largest memory chipmaker announced on Thursday that its operating profit reached 2.9 trillion won ($2.1 billion) for the first three months this year, compared to a 3.4 trillion won operating loss a year ago. The company's revenue jumped 144.3% to 12.4 trillion won during the same period.