Hynix had a Q4 profit of $260 million on revenues up 47.4%  at $8.5 billion compared with a loss of $1.4 billion in Q4 2022.

For the full year of 2023, Hynix had a loss of $5.8 billion on revenues which fell 27% y-o-y to $24.6 billion.

“We achieved a remarkable turnaround in the fourth quarter following a protracted downturn, thanks to our technological leadership in the AI memory space,” said CFO Kim Woohyun.

Hynix is working with Nvidia on HBM memories and is about to start producing the latest iteration – HBM3E.

“We are smoothly preparing for mass production of HBM3E as demand for the chips will occur in earnest this year. We plan to supply them during the first half,” said a Hynix exec on the results call.