SK Hynix says third-quarter operating profit soars 632% on AI chip demand

SK Hynix said its third-quarter operating profit surged 632% year on year to 83.33 trillion won, driven by strong demand for advanced memory chips from the artificial intelligence industry. The South Korean chipmaker also reported net profit of 39.77 trillion won and sales of 104.61 trillion won for July-September, marking a sixth straight quarter of record revenue and operating profit, though the earnings still fell short of market expectations.