SK Hynix reports profits amid stock decline

South Korean company SK Hynix combined strong quarterly results with record profits, boosting its operating income more than sixfold to a historic high. However, the company's stock declined by 13% following the announcement, due to market concerns over a slowdown in big tech companies' spending on artificial intelligence and the absence of a clear plan to share profits with shareholders. Despite this, the company's report confirmed ongoing demand for memory chips used in AI, with a focus on long-term contract guarantees to ensure future demand stability, alongside an increase in capital expenditure to approximately $27.6 billion. The company expects demand to remain strong despite falling prices of some chips, although concerns about how investments in production capacity could impact market prices still persist.

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