Nvidia supplier SK Hynix to boost spending on AI chips, after record Q2

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.S. tariffs.

The South Korean chipmaker, a key supplier to AI giant Nvidia, said high-end AI chip demand growth would be driven by new model launches by customers and that it was on track to double high-bandwidth memory (HBM) chip sales for the full year.

“Capex is expected to increase compared to our previous plans, with…