South Korea’s SK Hynix has reported its highest quarterly profit since 2018, attributing the surge to the increasing demand for artificial intelligence chips. What Happened: SK Hynix, a major supplier to NVIDIA Corp. (NASDAQ:NVDA), announced a second-quarter operating profit of 5.47 trillion won ($3.96 billion), marking its third consecutive profitable quarter after incurring losses last year, Reuters reported. This profit is the highest since the third quarter of 2018. The company’s revenue also soared by 125% year-over-year to a record quarterly high of 16.4 trillion won, driven by the surging demand for high-end DRAM chips, including High Bandwidth Memory chips used in data center servers and on-device AI services. SK Hynix, the second-largest memory chipmaker globally, has been a significant beneficiary of the AI-driven appetite for high-end chips and enterprise solid-state drives (eSSDs). The company’s ...