SK Hynix CEO: Memory chip shortage may last beyond 2030

CoinFeed July 11 news, according to Sina Finance, SK Hynix CEO Kwak Noh-Jung said that the memory chip shortage currently plaguing the computer, automotive, and device markets may last until after 2030. Kwak Noh-Jung said customers are signing long-term contracts because they 'think the shortage will last longer.' The company and its peers — Samsung Electronics and Micron Technology — have become major beneficiaries of the artificial intelligence boom. Massive spending by data center operators has driven demand for traditional memory as well as a new type of high-bandwidth memory. This rush has made it harder to meet the broad demand for storage chips, leading to shortages in areas such as computers, mobile phones, and automobiles. Kwak Noh-Jung said SK Hynix's analysis shows that this shortage could last into the next decade. Customer signals also indicate that they don't expect to get enough storage chips for some time.