There is no clear winner from operating results alone. NVIDIA and SK hynix both benefit from AI infrastructure spending, but they occupy different parts of the supply chain: NVIDIA sells computing and networking platforms, while SK hynix supplies memory used in AI systems. Their latest reported results show strong growth, but they do not establish which stock is more attractive at its current price. That requires a matched valuation comparison and a view of each investor’s time horizon and risk tolerance.
What NVIDIA and SK hynix sell
NVIDIA is a compute and networking platform supplier. Its business is tied to demand for data-center computing and related infrastructure. SK hynix is a memory supplier, with products including high-bandwidth memory (HBM), server DRAM, NAND and enterprise SSDs. Those products support AI systems, but the two companies are not interchangeable bets: their revenue drivers, capacity needs and risks differ.
That distinction matters when comparing the stocks. AI investment can support both businesses, yet their results depend on different products and execution. NVIDIA’s data-center revenue is a measure of its platform business, not a direct equivalent to SK hynix’s memory revenue.
Latest reported results: strong growth, different periods and currencies
NVIDIA reports in U.S. dollars under U.S. GAAP and has a fiscal year ending in January. SK hynix reports in Korean won under K-IFRS; its cited Q2 is the calendar quarter. The figures below are company-reported, and SK hynix’s Q2 release specifically labels its results preliminary.
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| Company and period | Reported results | Important qualification |
|---|---|---|
| NVIDIA, Q2 FY2027, quarter ended July 26, 2026 | Revenue of $96.221 billion, up 106% year over year; Data Center revenue of $89.0 billion, up 117%; GAAP gross margin of 75.0%; net income of $59.688 billion; diluted EPS of $2.46. | Company-reported figures. Results were released August 26, 2026. NVIDIA Q2 FY2027 results. |
| SK hynix, Q2 2026 | Revenue of KRW 79.3187 trillion, up 257% year over year; operating profit of KRW 60.5426 trillion, up 557%; operating margin of 76%; net income of KRW 93.9226 trillion. | Company-reported preliminary figures; its release said independent review was not finalized and the numbers could change through audit. Released July 29, 2026. SK hynix Q2 2026 results. |
The currencies, accounting bases and fiscal periods differ, so the figures should not be read as a direct scale comparison. In particular, comparing NVIDIA’s fiscal Q2 with SK hynix’s calendar Q2 does not make the periods identical.
How the businesses compare for an AI-focused investor
Growth and exposure to AI demand
NVIDIA’s Q2 FY2027 results show that its Data Center business was the largest source of its reported quarterly revenue: $89.0 billion of $96.221 billion. For the full fiscal year 2026, NVIDIA reported revenue of $215.938 billion, up 65% year over year, with Data Center revenue up 68%.
Rank #2
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SK hynix’s preliminary Q2 2026 release reported sharp year-over-year growth in revenue and operating profit. The company attributed demand to AI infrastructure and sales of HBM, high-capacity server DRAM and enterprise SSDs. Its prior-quarter Q1 2026 release reported revenue of KRW 52.5763 trillion, operating profit of KRW 37.6103 trillion and a 72% operating margin; that is historical context, not a substitute for the Q2 result. SK hynix Q1 2026 results.
These growth rates reflect different businesses, currencies and reporting periods. They do not establish that one company will grow faster from here, nor do they show how much future growth investors have already priced into either stock.
Margins and earnings quality
NVIDIA reported a 75.0% GAAP gross margin for Q2 FY2027. SK hynix reported a 76% operating margin for Q2 2026, but those are different measures: gross margin is not operating margin. SK hynix’s profit and margin figures also carry the company’s preliminary-results caveat. A headline comparison of 75% versus 76% would therefore be misleading.
Product execution and capacity
SK hynix said HBM4 mass shipments began during Q2 2026 and that production would ramp in the second half of 2026. The company also said demand for customer volumes exceeded its supply capability and described plans to accelerate production and packaging capacity while maintaining capital-expenditure discipline. These are company disclosures and plans, not independent confirmation of future supply, yields, pricing or market share.
Rank #4
For NVIDIA, customer data-center construction is a constraint as well as a source of demand. Its July 2026 SEC filing says land, power, buildings or shells, and capital are crucial to customer data-center builds, and shortages could affect future revenue and performance. NVIDIA July 2026 SEC filing.
Customer and commitment risks
NVIDIA’s FY2026 annual report says two direct customers accounted for 22% and 14% of total revenue, primarily in Compute & Networking. Direct customers can include distributors, cloud service providers, OEMs and other intermediaries; the filing separately says attribution of indirect-customer revenue is estimated. Those percentages should not be treated as a complete measure of end-customer concentration. NVIDIA FY2026 annual report.
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NVIDIA also describes multi-year commitments to secure supply and capacity, cloud services and data-center capacity. Such commitments can help secure resources, but they create risk if demand or plans differ from expectations. SK hynix’s capacity expansion presents a different execution challenge: it must add manufacturing and packaging capability without letting investment discipline slip, while future demand, yields and pricing remain uncertain.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the latest results do—and do not—say about which stock is better
If “better” means stronger recent operating momentum, both companies have reported substantial AI-linked growth, and the evidence does not support a simple head-to-head ranking. NVIDIA’s latest cited release shows substantial Data Center revenue; SK hynix’s latest cited release shows rapidly rising revenue and operating profit, subject to its preliminary-results qualification.
If “better” means the more attractive investment at today’s price, recent growth is not enough. A defensible stock comparison also needs current valuation, expected growth already reflected in the share price, balance-sheet and cash-flow durability, currency and listing considerations, and an explicit investor horizon and risk tolerance. The company results and filings cited here do not provide a matched valuation analysis or settle those choices.
Quick Recap
A practical way to decide between them
- Compare the businesses first: decide whether you want exposure to NVIDIA’s compute and networking platforms, SK hynix’s memory products, or both as distinct parts of the AI supply chain.
- Check comparable valuation data: use share prices and financial measures from the same date and account for the companies’ different currencies, accounting bases and reporting periods.
- Test the risks against your time horizon: consider NVIDIA’s customer concentration, supply commitments and data-center build constraints alongside SK hynix’s manufacturing capacity and capital-spending execution.
- Revisit the evidence as it changes: quarterly results, product shipments, capacity plans, share prices and regulatory disclosures can change; company statements about future plans are not guarantees.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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