SK Hynix Inc.’s shares slid 4.7% after its record quarterly profit and modest capex plans failed to impress investors betting on insatiable AI demand for advanced memory chips.

South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would more than double this year, after reporting a quarterly profit record that beat a results estimate for rival Samsung.

South Korea’s SK Hynix posted an operating profit of 8.08 trillion won ($5.6 billion) in the December quarter, slightly above the 8 trillion won average forecast by LSEG SmartEstimate. The company also boosted its annual dividend by 25% to 1,