SEOUL (Reuters) – South Korea’s SK Hynix reported its best quarterly profit since 2018, as the Nvidia supplier predicted continued robust AI chip demand, particularly for high bandwidth memory (HBM) used in generative AI chipsets.

“AI demand continues to outpace estimates… In an earnings call, Head of DRAM Marketing Kim Kyu Hyun stated that next year’s HBM shipments are expected to more than quadruple those of this year.

However, SK Hynix shares fell as much as 8.4% in morning trade, mirroring drops in US stocks such as Nvidia, as tech firms’ results failed to match sky-high market expectations.

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