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.

SK Hynix Inc.’s shares slid after record quarterly results failed to impress investors grappling with stagnant smartphone demand and questions about AI spending in 2025.

SK hynix Inc. reported financial results for 2024, with revenues surging 102% to 66.19 trillion won ($46.34 billion), driven by explosive demand for artificial intelligence memory products.

South Korea's SK Hynix on Thursday 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 chipsets.

SK Hynix Inc., a major supplier of memory chips, has announced record quarterly earnings. However, investors have reacted cautiously. Concerns about smartphone demand and future AI spending have tempered enthusiasm.

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,

The South Korean memory-chip maker reported record quarterly and annual results after stronger-than-expected earnings for the final quarter of 2024 on robust chip demand.