SK Hynix profit surpasses Samsung, but shares dip on lower memory chip demand
SEOUL (Reuters) -South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would double this year after reporting a record quarterly profit that surpassed its bigger rival Samsung. Shares in SK Hynix, a key supplier to AI chip giant Nvidia, however, dropped 3% on Thursday as the company warned of steeper demand declines in commodity memory chips used in smartphones and computers, due to economic uncertainty and growing competition from Chinese rivals. Before the result, SK Hynix shares had jumped about 30% so far this year on bullish sentiment driven by its business discussions with Nvidia, outperforming Samsung, whose shares rose 2% over the same period.