SK Hynix's record profit misses forecasts, shares slump 10% despite robust AI chip demand

FILE PHOTO: A logo of Semiconductor and memory chip company SK Hynix during the company's debut at the Nasdaq market in New York City, U.S., July 10, 2026. REUTERS/Angelina Katsanis/File Photo

SEOUL, July 29 (Reuters) - South Korean chipmaker SK ⁠Hynix reported bumper quarterly results on Wednesday but fell short of lofty investor expectations, heightening market concerns about slower AI spending by big tech firms.

To cushion itself against the industry's volatile ⁠demand cycles, the company is racing to lock in long-term supply deals .