South Korea’s SK Hynix said on Wednesday that quarterly profit more than doubled to a record, comfortably beating forecasts on relentless demand for artificial intelligence that has lifted prices for both advanced and conventional memory chips. The Nvidia supplier logged a 137% surge in operating profit to 19.2 trillion won ($13.5 billion) for the fourth quarter, according to Reuters calculations. That compared with 8.1 trillion won a year earlier and a 17.7 trillion won consensus prediction from LSEG SmartEstimate, which is weighted toward analysts with a more consistent track record.
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