SK Hynix has posted its strongest-ever quarterly and annual performance. The record earnings reflect the firm’s rising dominance in the High Bandwidth Memory (HBM) chip

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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.

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,

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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.

The company’s Q4 revenue increased by 12%, and its operating profit rose by 15%, making for its best quarter ever, SK Hynix said in a statement. The company also announced that its revenue for the year was 66.1930 trillion won (roughly $46.13 billion). SK Hynix raised its annual fixed dividend for shareholders by 25%.

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