SK Hynix shares jumped 5.2% by 2:50 pm AEDT (3:50 am GMT) after the heavyweight chipmaker posted record revenue and profit in its third-quarter earnings report.
Revenue rose about 39% in the September quarter compared with the same time last year, landing at 24.73 trillion won, and operating profit climbed to 11.39 trillion won.
On a quarterly basis, revenue was up 10%, while operating profit grew 24%.
The South Korean company, which makes memory chips used to store data, has seen an increase due to the growing demand in the AI memory market.
SK Hynix's planned supply of memory products for next year has already sold out, with the company looking to expand production capacity.
“With the innovation of AI technology, the memory market has shifted to a new paradigm and demand has begun to spread to all product areas,” said Kim Woohyun, the company's Chief Financial Officer.
“We will continue to strengthen our AI memory leadership by responding to customer demand through market-leading products and differentiated technological capabilities.”
