SK Hynix, a major supplier to NVIDIA Corporation, has reported a turnaround in its financial performance, attributing it to the surging demand for AI chips. The South Korean memory chip manufacturer recorded a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter, a significant improvement compared to the 2.58 trillion won loss in the same period last year. This marks SK Hynix’s first positive income since the third quarter of 2022.
Taiwanese chipmaker UMC anticipates a rise in wafer shipments for the second quarter, citing improvements in inventory levels for computing, consumer, and communications segments. However, the company cautions that demand in the automotive and industrial sectors remains subdued due to slower inventory digestion than anticipated. Despite these near-term headwinds, UMC remains optimistic and will continue to invest in technology, capacity, and personnel to capitalize on the upcoming growth phase driven by 5G and AI innovations.
Texas Instruments Incorporated (TXN) reported first quarter revenue of $3.66 billion, net income of $1.11 billion, and earnings per share of $1.20. Revenue decreased 16% from the same quarter a year ago and 10% sequentially, as revenue declined across all end markets. Earnings per share included a 10-cent benefit for items that were not in the company’s original guidance. TI’s second quarter outlook is for revenue in the range of $3.65 billion to $3.95 billion and earnings per share between $1.05 and $1.25.
Oregon Governor Tina Kotek has announced plans to establish a new technical center at Intel’s Hillsboro site to strengthen the state’s semiconductor industry. The center will be affiliated with the National Semiconductor Technology Center (NSTC) and will focus on manufacturing-related research and development, featuring an Advanced Lithography Center.
The technology-heavy Nasdaq Composite suffered its sixth straight session of losses on Friday, with Nvidia stock dropping 10%. The Philadelphia Semiconductor Index also fell, mirroring declines in Asian markets. Geopolitical unrest and a disappointing earnings report from ASML Holding contributed to the negative sentiment.
