海力士公司公布的季度利润激增七倍，远超预期，并推出了一项价值100万亿韩元（约合750亿美元）的2026年额外股东回报计划，凸显了对AI硬件的持续强劲需求。
Hynix Inc. posted a stronger-than-expected seven-fold surge in quarterly profit and unveiled an additional shareholder return program for 2026 worth 100 trillion won ($75 billion), underscoring relentless demand for AI hardware.
全球第二大存储芯片制造商报告称，9月季度营业利润达到83.3万亿韩元，高于分析师平均预期的77.5万亿韩元。营收攀升至104.6万亿韩元，高于平均预期的99万亿韩元。
The world’s second-biggest memory chipmaker reported operating profit of 83.3 trillion won in the September quarter, beating analysts’ average projection for 77.5 trillion won. Revenue climbed to 104.6 trillion won, against the average estimate of 99 trillion won.
这一业绩增强了市场对AI开发商建设数据中心带动存储需求激增、从而维持利润增长的期待。近几周，该前景因雄心勃勃的基础设施项目在融资和建设方面面临挑战而受到越来越多审视。
The result bolsters hopes for sustained profit from the surge in demand for memory from artificial intelligence developers building data centers. That’s come in for increasing scrutiny in recent weeks with challenges in financing and setting up ambitious infrastructure projects.
海力士已成为AI热潮最大受益者之一，在向英伟达公司供应高带宽存储器的同时，也受益于传统存储芯片价格飙升。其营业利润率维持在历史高位，反映出供应紧张。周三，该公司表示预计存储芯片供应短缺将持续到2030年。
SK Hynix has emerged as one of the biggest beneficiaries of the AI frenzy, supplying high-bandwidth memory to Nvidia Corp. while capitalizing on soaring prices of conventional memory chips. Its operating margins remain at historically elevated levels, reflecting tight supply. On Wednesday, the company said it expects memory supply shortages to last through 2030.
在因股东反对和监管审查而放弃Solidigm（赛迪）子公司潜在美国上市计划后，额外的股东回报可能为股价提供另一催化剂。彭博社报道，Solidigm正与美国商务部就投资450亿美元在美国建设新芯片厂进行谈判。
The additional shareholder payouts could provide another catalyst for the stock price after the chipmaker abandoned a potential US listing of its Solidigm unit amid shareholder opposition and regulatory scrutiny. Solidigm is in talks with the US Commerce Department to invest $45 billion in a new chip plant on American soil, Bloomberg News reported.
据麦格理研究，存储芯片目前约占AI数据中心所有支出的三分之一，海力士凭借与英伟达的紧密合作在该业务中扮演关键角色。麦格理表示，随着HBM价格预计在2027年翻倍以上，存储芯片在整体计算硬件支出中的占比在未来几年有望上升。
Memory now constitutes roughly a third of all expenses related to AI data centers, according to research by Macquarie, and SK Hynix plays a key role in that business with its close collaboration with Nvidia. That share of overall computing-hardware spending is expected to rise in the coming years as HBM prices are set to more than double in 2027, Macquarie said.
SK海力士已优先与包括英伟达在内的客户签订长期合同。与竞争对手三星电子和美光科技一样，该公司近年来已将生产重心转向HBM，导致传统内存供应趋紧。
SK Hynix has prioritized long-term contracts with customers including Nvidia. Like competitors Samsung Electronics Co. and Micron Technology Inc., it’s shifted production in recent years toward HBM, tightening supply of conventional memory.
“虽然HBM价格在上涨，但盈利的大幅激增归因于传统DRAM和NAND闪存价格的快速上涨，”Counterpoint Research总监黄敏秀（MS Hwang，音译）表示。“季度盈利尚未触及顶峰，上升趋势很可能至少将持续到2027年。”
“While HBM is seeing a price appreciation, the sharp surge in earnings is attributed to the rapid price hikes in conventional DRAM and NAND,” said MS Hwang, director at Counterpoint Research. “Quarterly earnings have not yet reached their peak and the upward trajectory will likely sustain at least through 2027.”