SEOUL -- SK Hynix's operating profit jumped 29% to a record high in the third quarter from the second due to "explosive" demand for artificial intelligence memory chips, the South Korean company said on Thursday, marking a return to profit from a loss during the same period last year.
The world's second-largest memory chip maker said that operating profit reached 7 trillion won ($5.1 billion) for July-to-September period, up 28.6% from the previous quarter and an all-time high for any three-month span. Revenue rose 7% to 17.6 trillion won during the same period, also a quarterly record.
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