SK hynix achieves record quarterly profit fueled by AI demand

SK hynix reported a record quarterly profit driven by the AI boom, exceeding analyst expectations. The South Korean chipmaker's net profit surged nearly 400 percent year-on-year, with revenue surpassing 50 trillion won for the first time. Demand for AI hardware, particularly high-bandwidth memory chips, is soaring. This surge in demand for AI components is leading to increased prices for conventional memory chips and SK hynix is expanding its production capacity.