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.

Revenue rose over 35% in the June quarter compared with the same period a year earlier, while operating profit jumped nearly 69%, year on year.

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.