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.

SK hynix Inc. reported financial results for 2024, with revenues surging 102% to 66.19 trillion won ($46.34 billion), driven by explosive demand for artificial intelligence memory products.

Shares of Micron (NASDAQ:MU) are down about 3.5% on the day. About This Article  Shares of Micron are down about $4.50 on the day thanks to Nvidia supplier, SK Hynix. Granted, SK Hynix did post a record quarterly profit.

SK Hynix 0006600.68%increase ... chip maker supplies advanced high-bandwidth-memory products to AI-chip giant Nvidia, and its market leadership has helped significantly boost profits over the ...

SEOUL - South Korea’s SK Hynix on Jan 23 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 (AI) chipsets.

Dallas-based Texas Instruments gave a disappointing earnings forecast for the current period, hurt by still-sluggish chip demand and higher manufacturing costs.

Looking at Ciena, the company supplies to both Microsoft and Oracle. As the Stargate venture drives the creation of data centers in disparate locations, Notter thinks that Ciena's wavelength-division-multiplexing technology could help connect them.

Nvidia stock rose modestly early Friday as investors digested a raft of mixed news over the past few days. Shares were up 0.1% to $147.34 in premarket trading. It closed almost flat Thursday after starting the day in the red as a fresh outlook from supplier SK Hynix cast doubt over future demand for its products.

My bearish view on Micron has been ill-timed, as the stock has rallied hard since, prompting me to revisit my views. Explore more details here.

The company’s Q4 revenue increased by 12%, and its operating profit rose by 15%, making for its best quarter ever, SK Hynix said in a statement. The company also announced that its revenue for the year was 66.1930 trillion won (roughly $46.13 billion). SK Hynix raised its annual fixed dividend for shareholders by 25%.

Chip stocks including Nvidia and Arm fell Thursday after an Nvidia supplier, SK Hynix, spoke about uncertainty in semiconductor demand in 2025 on its earnings call.