Despite record second-quarter profits fuelled by AI demand, SK hynix shares plunged as investors questioned whether the boom can last amid Middle East tensions.
Published on
29/07/2026 - 10:41 GMT+2
South Korea's SK hynix said on Wednesday that second-quarter net profit soared 1,242% year-on-year, driven by the artificial intelligence industry's surging demand for its advanced memory chips.
Despite the record result, its shares closed 9.6% lower in Seoul after revenue and operating profit missed market expectations.
The company is a key supplier of high-bandwidth memory chips to US technology giant Nvidia and a pillar of South Korea's tech-led economy.
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