South Korea's SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier saw strong sales of advanced chips such as high-bandwidth memory (HBM) used in generative artificial intelligence chipsets.

The company said supply will remain tight for high-performance chips, but demand declines will accelerate for legacy products.

South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would more than double this year,

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.