SK Hynix Hits 76% Margin on HBM: Are Markets Mispricing AI Infrastructure?
km · x · 2026-07-31
Investor Steve Jang on CNBC discussed the valuation logic shifting for AI infrastructure layers. Using SK Hynix as a prime example, the company posted eye-popping Q2 numbers: $55.0 billion in revenue (up 257% YoY) and $42.0 billion in operating profit (up 557% YoY), achieving a record operating margin of 76%.
Despite these incredible fundamentals driven by High Bandwidth Memory (HBM) defensibility, the stock fell over 9% after missing highly inflated consensus estimates. Jang raises a critical question: is the market incorrectly applying an outdated memory-cycle framework to evaluate the new, persistent AI infrastructure layer? The conversation also touched on the future roadmap for AI regarding memory, robotics, and agents.
Related event: SK Hynix Earnings Beat Expectations, Highlighting Strong AI Memory Demand(2 posts)→
More from Venture
- AI Hedge Funds AIPR & VARA Plunge 30-50% MTD, Revealed by Shkreli — ctjlewis · 2026-07-31
- Microsoft Hits Record Single-Day Market Cap Gain as AI Demand Accelerates — firstadopter · 2026-07-31
- NYT Explores Why an AI Bubble Might Not Be a Bad Thing — nordicinst · 2026-07-31
- Apify Offers $500 per Published Technical Tutorial for Developers — _jaydeepkarale · 2026-07-31
- Unitree's Aug 10 IPO: How the Market Prices China's Next Productivity Leap — yongqianme · 2026-07-31
- SPC Invests in Preseen: Multi-Agent System for Macro Event Forecasting — adityaag · 2026-07-31