[News] NVIDIA Reportedly Drives 27% of SK hynix Revenue in 1H25, Cementing AI Chip Partnership

As a key supplier of HBM3 and HBM3e to NVIDIA and a major beneficiary of the AI boom, SK hynix showcases its strong industry position in its freshly released 2025 semi-annual report, highlighting the close partnership with the U.S. chip giant. According to Yonhap News, the company reportedly earned around ₩11 trillion in revenue from NVIDIA alone in the first half of this year.

Notably, citing data provided by SK hynix, Yonhap reports that revenue from a single “major customer” reached ₩10.89 trillion in the first half of 2025. With SK hynix’s consolidated revenue totaling ₩39.87 trillion for the same period, roughly 27% of its total revenue came from just this one client, the report adds.

While SK hynix did not officially name the customer, industry insiders cited in the report point to NVIDIA. In 2023, no single client accounted for more than 10% of SK hynix’s revenue, but in 2024, NVIDIA alone contributed roughly ₩10.9 trillion, or 16% of total sales, according to Yonhap.

According to TrendForce projections, SK hynix is set to remain the dominant player in the HBM market, commanding 52.3% of global HBM market share in 2025. Meanwhile, Samsung, still struggling with NVIDIA’s 12Hi HBM3e verification, is expected to drop to 28.7%, down from 41% last year, while Micron rises to 19%.

However, as ZDNet points out, while Micron has already hinted its 2026 HBM supply to be sold out soon, SK hynix has yet to make such a declaration. The report suggests that the company had initially planned to finalize 2026’s HBM supply with NVIDIA by mid-2025, but negotiations dragged into this month.

Bullish on Capex as Cash Equivalents Rise on Strong HBM Sales

Despite challenges, SK hynix remains bullish on its 2025 capex. Strong HBM sales have strengthened the company’s finances in H1, with liquid assets rising over ₩2.8 trillion and borrowings falling more than ₩800 billion, according to Business Korea. Business Korea, total cash stood at ₩16.96 trillion, up 75% from ₩9.67 trillion in the same period last year, as noted by the report.

According to Chosun Biz, during its late-July earnings call, SK hynix indicated that its 2025 capital expenditure will rise above earlier plans, reflecting efforts to meet this year’s HBM supply commitments and to advance long-term projects such as the M15X fab in Cheongju and the Yongin chip cluster. In March, the company also shipped the world’s first 12-layer HBM4 samples to major customers.

Read more

• [News] HBM Battle Heats Up: Micron Reportedly Hints 2026 Sell-Out, SK hynix Yet to Confirm
• [News] SK hynix Rumored to Boost 2025 Capex by 30% on 2026 HBM Demand Visibility

(Photo credit: SK hynix’s X)