SK Hynix to Overtake Intel as 3rd Largest Chip Maker in Q3

According to market research firm Omdia, SK Hynix is projected to achieve a record revenue of $12.8 billion in the third quarter of 2024 (July to September), surpassing Intel to become the world's third-largest semiconductor manufacturer. This milestone would mark the first time SK Hynix has outperformed Intel since Omdia began tracking global semiconductor revenue in 2002.

The report forecasts that NVIDIA, the leader in AI chips, will continue to hold the top position with an anticipated revenue of $28.1 billion for the third quarter. Samsung Electronics is expected to secure the second spot with an estimated revenue of $21.7 billion. SK Hynix’s revenue is anticipated to reach $12.8 billion, setting a new quarterly revenue record and positioning the company ahead of Intel in the global semiconductor rankings.

It is expected that NVIDIA, Samsung Electronics, and SK Hynix will each account for 16%, 12.3%, and 7.3% of global chip sales in the third quarter, respectively.

Market observers attribute SK Hynix's strong performance to the surge in demand for high-bandwidth memory (HBM) chips driven by the AI boom. Meanwhile, NVIDIA reported second-quarter revenue of $30 billion for the period ending July 28, reflecting a 15% increase from the previous quarter and a 122% year-over-year growth. However, despite this impressive growth, NVIDIA's stock price fell following the announcement, with analysts noting that the results fell short of high expectations and that the company's performance was anticipated to be stronger.