Memory Chip Giants Report Record Profits but Face Investor Doubts on AI Demand Durability

Samsung, SK Hynix, and Micron posted record earnings in their latest quarterly results, riding strong demand for artificial intelligence memory chips—but investors remain skeptical that spending growth can sustain. The world's three largest memory manufacturers reported combined operating profits of $139 billion in the third quarter of 2026, as sky-high prices for specialized memory chips used in AI data centers bolstered margins. Samsung reported 107.4 trillion Korean won ($40 billion) in operating profit, while SK Hynix achieved approximately 77 trillion won, with operating margins near 78%—driven by robust demand for high-bandwidth memory (HBM) and traditional DRAM.