Nvidia supplier SK Hynix posts 6-year high profit on AI boom
SEOUL (Reuters) -South Korea's SK Hynix posted its highest quarterly profit since 2018 on Thursday as the Nvidia supplier said strong AI chip demand will only get stronger, such as for high bandwidth memory (HBM) used in generative AI chipsets. "AI demand continues to grow above expectations... We expect next year's HBM shipments to more than double this year's," Head of DRAM Marketing Kim Kyu Hyun said in an earnings call. However, SK Hynix shares dropped as much as 8.4% in morning trade, tracking declines in U.S. shares such as Nvidia, as tech firms' results failed to meet sky-high investor expectations.