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 4.7% after its record quarterly profit and modest capex plans failed to impress investors betting on insatiable AI demand for advanced memory chips.

SK Hynix is on the brink of potentially overtaking Samsung Electronics in operating profit this year, signaling a historic shift in the domestic semiconductor landscape. Analysts estimate that SK Hynix’s operating profit surpassed that of Samsung’s chip division last year,