South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would more than double this year, after reporting a quarterly profit record that beat a results estimate for rival Samsung.

SK Hynix Inc.’s shares slid 4.7% after its record quarterly profit and modest capex plans failed to impress investors betting on insatiable AI demand for advanced memory chips.Nvidia Corp.’s main supplier of high-bandwidth memory reported a more than 20-fold jump in operating profit to 8.

South Korea’s SK Hynix posted an operating profit of 8.08 trillion won ($5.6 billion) in the December quarter, slightly above the 8 trillion won average forecast by LSEG SmartEstimate. The company also boosted its annual dividend by 25% to 1,

South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would double this year after reporting a record quarterly profit that surpassed its bigger rival Samsung.

SEOUL - South Korea’s SK Hynix on Jan 23 posted a record quarterly profit as the Nvidia supplier saw strong sales of advanced chips such as high-bandwidth memory (HBM) used in generative artificial intelligence (AI) chipsets.

SK Hynix Inc. reported a record quarterly profit after the company extended its lead in advanced memory chips for datacenters and artificial intelligence development.