SEOUL (Reuters) -SK Hynix, world's second-largest memory chip maker, said on Thursday it had developed the industry's first sixth-generation 10-nanometre dynamic random access memory (DRAM) chip with reduced power consumption than older models.

The Nvidia supplier said in a statement the chip, called 16Gb 1c DDR5, has improved power efficiency from the previous generation chip by more than 9%.

This can help data centres reduce electricity costs by as much as 30% during the current artificial intelligence (AI) boom, the company said.

SK Hynix said it plans to start volume shipment of the chip next year.

(Reporting by Joyce Lee and Heekyong Yang; Editing by Himani Sarkar and Christian Schmollinger)