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Euronews
Euronews
Indrabati Lahiri

South Korean chipmaker SK hynix reports 1,242% profit surge on booming AI demand

SK Hynix South Korea Memory Nvidia Samsung

South Korea's SK hynix said on Wednesday that second-quarter net profit soared 1,242% year-on-year, driven by the artificial intelligence industry's surging demand for its advanced memory chips.

Despite the record result, its shares closed 9.6% lower in Seoul after revenue and operating profit missed market expectations.

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