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.

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., 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.