South Korean chipmaker SK hynix posted record earnings last year thanks to strong sales of high-bandwidth memory used in generative artificial intelligence.

The company said in a regulatory filing Thursday that its operating profit last year reached 23-point-46 trillion won, or about 16-point-three billion U.S. dollars, a turnaround from the seven-point-73 trillion won deficit seen the previous year. 

Sales marked 66-point-19 trillion won in 2024, up 102 percent from a year earlier, while net profit posted 19-point-79 trillion won.

Sales, operating profit and net profit all hit record highs. 

For the fourth quarter, the chipmaker’s operating profit soared to eight-point-08 trillion won, more than two-thousand-230 percent higher than the figure from a year earlier. 

Sales for the October-December period marked 19-point-76 trillion won and net profit surpassed eight trillion won, record quarterly figures in both cases.