AI chip giant SK hynix says Q3 operating profit soars 630%

South Korean chip giant SK hynix said Wednesday its third-quarter operating profit soared 632 percent on-year, largely driven by the artificial intelligence industry’s explosive demand for its advanced memory chips.

Operating profit for the July-September period was 83.33 trillion won ($62.8 billion), the company said.

The firm’s July-September net profit jumped 215.7 percent from last year to 39.77 trillion won, while sales reached 104.61 trillion won.