Seoul: U.S. semiconductor manufacturer Intel may lose its third spot in terms of sales for the first time in the third quarter (Q3) to SK hynix, a major South Korean chipmaker, a report showed on Wednesday.


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SK hynix is expected to post a record revenue of $12.8 billion in the July-September period, surpassing Intel to become the world's third-largest chipmaker, according to market analyst Omdia. This will mark the first time SK hynix has outperformed Intel since Omdia began tracking the global semiconductor industry's revenue in 2002, reports Yonhap News Agency.


U.S. artificial intelligence (AI) chip giant Nvidia Corp. is projected to maintain its top spot with quarterly sales of $28.1 billion, while Korean tech giant Samsung Electronics Co. is expected to hold its No. 2 spot with record quarterly sales of $21.7 billion.


Nvidia, Samsung Electronics, and SK hynix are forecast to account for 16 percent, 12.3 percent, and 7.3 percent of global chip sales for the third quarter, respectively. Market observers attribute SK hynix's performance to increasing demand for high-value products like high-bandwidth memory chips, driven by the AI boom.


Meanwhile, AI chip giant Nvidia reported $30 billion in revenue for the second quarter that ended July 28, up 15 percent from the previous quarter and up 122 percent from a year ago.


However, the company's shares fell after the announcement as analysts noted that it was less about beating estimates and more about the market's expectation for even better performance.