SK Hynix Inc.
000660.KSpublicSemiconductors (Memory)
World's #1 HBM (High-Bandwidth Memory) supplier — the memory stacked on top of every NVIDIA AI GPU. SK Hynix HBM3E is sold out through 2025/2026 to NVIDIA. The company that wins the HBM race wins AI memory. Also major DRAM and NAND supplier.
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2025 CAPEX
$16.5B
YoY 2025 vs 2024
+28.9%
Latest Quarter
$4.5B
Q4'25
FY2026 Guidance
$17.0B–$20.0B
CAPEX History — Quarterly
Quarterly Data & Sources
| Quarter | CAPEX | Revenue | % Rev | Source |
|---|---|---|---|---|
| Q4'25 | $4.5B | $19.0B | 23.7% | SK Hynix Q4 2025 Earnings (est.) |
| Q3'25 | $4.2B | $18.0B | 23.3% | SK Hynix Q3 2025 Earnings (est.) |
| Q2'25 | $4.0B | $17.0B | 23.5% | SK Hynix Q2 2025 Earnings (est.) |
| Q1'25 | $3.8B | $16.0B | 23.8% | SK Hynix Q1 2025 Earnings (est.) |
| Q4'24 | $3.5B | $15.0B | 23.3% | SK Hynix Q4 2024 Earnings (est.) |
| Q3'24 | $3.3B | $14.6B | 22.6% | SK Hynix Q3 2024 Earnings |
| Q2'24 | $3.1B | $13.1B | 23.7% | SK Hynix Q2 2024 Earnings |
| Q1'24 | $2.9B | $12.4B | 23.4% | SK Hynix Q1 2024 Earnings |
| Q4'23 | $2.8B | $11.3B | 24.8% | SK Hynix Q4 2023 Earnings |
| Q3'23 | $2.4B | $7.7B | 31.2% | SK Hynix Q3 2023 Earnings |
| Q2'23 | $2.3B | $6.0B | 38.3% | SK Hynix Q2 2023 Earnings |
| Q1'23 | $2.5B | $5.8B | 43.1% | SK Hynix Q1 2023 Earnings |
Q1'23 — Converted from KRW at 1300 KRW/USD
Q2'23 — Converted from KRW at 1300 KRW/USD
Q3'23 — Converted from KRW at 1300 KRW/USD
Q4'23 — FY2023 total CAPEX: ~$10.0B
Q1'24 — Converted from KRW at 1340 KRW/USD
Q2'24 — Converted from KRW at 1340 KRW/USD
Q3'24 — Converted from KRW at 1340 KRW/USD
Q4'24 — FY2024 total CAPEX: ~$12.8B
Q1'25 — Converted from KRW at 1380 KRW/USD
Q2'25 — Estimated
Q3'25 — Estimated
Q4'25 — Estimated. FY2025 total est. ~$16.5B
Guidance Tracker
FY2025
Completed
“We plan to significantly increase CAPEX in 2025 to expand HBM3E and M16 fab capacity. Demand from AI customers remains exceptionally strong.”
Guided: $14.0B–$16.0B
Actual to date: $16.5B
118%
FY2026
On Track
“We will continue aggressive HBM4 investment in 2026. Yield improvements and new customer qualifications support capacity expansion.”
Guided: $17.0B–$20.0B
Key Quotes
Kwak Noh-jung·CEO·2025-01-22
“HBM3E is completely sold out. We are in active qualification discussions with key customers for HBM4. SK Hynix is the undisputed leader in AI memory.”
Q4 2024 Earnings Call
Partnerships & Investments
NVIDIA
Sole or primary HBM3E supplier for NVIDIA H200, B200 series AI GPUs. Multi-year supply agreement.
supply
SEC Filings
koreaHBMmemorysemiconductorsNVIDIAAI-memorypublic