SK Hynix(OTC:HXSCF), a major memory chipmaker and a key supplier toNvidia Corp.(NASDAQ:NVDA), has announced a record-breaking quarterly profit, driven by the rising demand for artificial intelligence technology.

What Happened: The South Korean semiconductor company posted revenues of 17.5731 trillion won ($12.65 billion), a 7% increase from the previous quarter. Operating profit surged to 7.03 trillion won ($5.06 billion), and net profit reached 5.7534 trillion won ($4.14 billion), marking significant gains from last year.

This marks SK Hynix's highest-ever quarterly revenue, surpassing the previous record of 16.4233 trillion won set in the second quarter of 2024.

The company attributed this growth to...