SK Hynix, a supplier to Nvidia, reports a record quarterly profit due to the surge in demand from the AI industry.

• LSEG's forecast for third-quarter operating profit was beaten by the actual result of 7.03 trillion won.
• Nvidia's key supplier, the South Korean chip giant, has profited from the surge in demand for artificial intelligence servers.

SK Hynix, a leading memory chip manufacturer globally, reported record quarterly earnings on Thursday, driven by increased demand for its high-speed memory (HBM) used in AI chipsets.

LSEG SmartEstimate, which is based on analysts' forecasts, shows SK Hynix's third-quarter results.

• Revenue: 17.57 trillion won ($12.7 billion) vs. 18.11 trillion won
• 7.03 trillion won ($5.08 billion) in operating profit vs. 6.8 trillion won.

In the July-September quarter, operating profit reached its peak, recovering from a 1.8 trillion won loss in the same period the previous year.

Quarterly revenue grew about 94% year-on-year from 9.1 trillion won.

Nvidia's key supplier, the South Korean chip giant, has profited from the surge in demand for artificial intelligence servers.

The company announced last month that it has begun mass production of its latest HBM chips and plans to deliver them by the end of the year.

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