Nvidia Supplier SK Hynix posted record third-quarter profits driven by strong demand for its high-bandwidth memory used in generative AI. Revenue grew 94% year-over-year, slightly below analyst estimates. Operating profit surpassed forecasts. Sales of HBM products rose 70% from the previous quarter and tripled compared to the same period last year. HBM features vertically stacked chips to save space and lower power consumption, commonly used in laptops, workstations, and PCs. SK Hynix shares briefly declined at market open on Thursday but later rebounded to trade higher.
