In the third quarter, SK Hynix's revenue and profits exceeded historical records. Company executives said that the market was "too early" to worry about the surplus of chips.

SK Group divested its loss making business and invested 80 trillion Korean won to develop AI. The company's executives pushed for internal restructuring, resulting in a 94% drop in profits.

SK Hynix shares rose more than 9 percent on Thursday as the company began volume production of its latest generation of high-bandwidth memory (HBM) chips, which can meet the huge demand for artificial intelligence (AI) faster.

SK Hynix received a $450 million grant and a $500 million loan from the United States to build a chip packaging factory in Indiana for advanced packaging and AI product research and development.

Despite the promising earnings figures, SK Hynix shares still obtain the biggest drop in 20 months.

SK Hynix said it would invest nearly $75 billion in AI by 2028, mostly to strengthen HBM's chip business.

SK Hynix signs MOU with TSMC to enhance HBM4 performance using TSMC's cutting-edge foundry process and pioneer next-generation packaging technology. Breaking memory performance limits for AI applications through a three-way collaboration between product design, foundry and memory.