SK Hynix Posts Record Profit After AI Demand Powers On
- Revenue climbed 94% while operating profit hit a new high
- SK Hynix’s shares have gained more than 40% this year
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SK Hynix Inc. posted record quarterly profit and revenue, reflecting strong demand for the memory chips used with Nvidia Corp. processors for artificial intelligence development.
The South Korean chipmaker revealed a better-than-projected operating profit of 7.03 trillion won ($5.1 billion) in the September quarter, after revenue almost doubled. And it projected mid- to high-teens growth in demand for DRAM and Nand flash memory chips in 2025, suggesting it expects a sustained recovery for the broader market.