SK Hynix flagged plans to lift spending this year on advanced chipmaking after posting a record quarterly profit on Thursday, boosted by strong demand for artificial intelligence chips and customers stockpiling ahead of potential U.

SK Hynix, a major supplier of advanced memory chips to Nvidia, is set to significantly boost capital spending in 2025 after reporting a record operating profit of USD 6.7 billion in the second quarter.

HK hynix also said net profit was up close to 70 percent on-year, at 6.99 trillion won. "An aggressive investment by global big tech companies into AI led to a steady increase in demand for AI memory," it said in a statement. Shipments of DRAM and NAND flash topped forecasts, boosting the bottom line.