SK Hynix profit soars to a record high on AI boom, but shares drop on demand uncertainty

• SK Hynix Posts Strong Fourth-Quarter Net Profit on AI Boom

  The South Korean memory-chip maker reported record quarterly and annual results after stronger-than-expected earnings for the final quarter of 2024 on robust chip demand.
  
  The Wall Street Journal - 2h
• 

  Taiwanese chipmaker TSMC posts 57% surge in profit thanks to the AI boom

  Taiwan computer chip maker TSMC has reported its profit in the last quarter rose 57%, buoyed by the artificial intelligence boom
  
  ABC News - 6d

• TSMC net profit hits record high as fourth-quarter results top expectations on robust AI chip demand

  TSMC, the world's largest contract chip manufacturer, produces advanced processors for clients such as Nvidia and Apple and has benefited from the megatrend in favor of AI.
  
  CNBC - 6d

• How Nissan's profits dropped 90% in one year

  Merging with rival Honda may be Nissan's best shot at survival. The Japanese automaker is struggling around the world, including the U.S. and China.
  
  CNBC - Jan. 15

• Big US banks set for $31bn quarterly profit as Wall Street business booms

  Trading activity boosted in final quarter of 2024 by Donald Trump’s election win
  
  Financial Times - Jan. 13
• 

  'High demand' for City of Culture opening ceremony

  'High demand' reported for open-air performance in Bradford city centre on Friday.
  
  BBC News - Jan. 10
• 

  Greggs shares drop on sales slowdown

  UK bakery chain blames ‘subdued high street footfall’ for weaker earnings
  
  Financial Times - Jan. 9

• Israel's Defense Industry Booms on Foreign Demand and War at Home

  Despite arms embargoes over its handling of the war in Gaza, Israel’s top three defense companies are on pace to sell more weapons than ever.
  
  The Wall Street Journal - Jan. 9

• Foxconn Posts Record Fourth-Quarter Revenue on AI Demand

  The Taiwan-listed assembler of Apple and Nvidia products posted record revenue for the fourth quarter, helped by robust demand for servers to power burgeoning artificial intelligence technologies.
  
  The Wall Street Journal - Jan. 5

More from CNBC

• Musk undercuts Trump on Stargate AI investment announcement

  Open AI CEO Sam Altman, Oracle co-founder Larry Ellison and Softbank CEO Masayoshi Son appeared alongside President Donald Trump to announce the Stargate plan.
  
  CNBC - 8h

• EA shares drop 7% after company lowers guidance due to weakness in soccer, other games

  Electronic Arts slashed its full-year guidance on Wednesday, blaming the shortfall on underperforming games, in particular, its soccer franchise.
  
  CNBC - 6h

• Billionaire Frank McCourt is open to a 50% share of TikTok after Trump comments

  Frank McCourt's Project Liberty and other investors have submitted a bid to buy TikTok from China-based ByteDance after a court-ordered divestiture or shutdown.
  
  CNBC - 8h

• CNN to lay off hundreds of employees as post-inauguration transformation begins, sources say

  Both CNN and NBC News are planning layoffs this week as newsrooms transition away from linear TV toward digital audiences.
  
  CNBC - 6h

• Microsoft's business development chief Chris Young resigns

  Chris Young, who joined Microsoft in 2020, worked on the software company's investments, its OpenAI relationship and the Activision Blizzard acquisition.
  
  CNBC - 3h

More in Business

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  Trumps Threatens Tariffs Feb. 1 on Canada, Mexico and China

  The president said he will impose tariffs Feb. 1 on products from Canada, Mexico and China, countries that together account for more than a third of U.S. trade.
  
  The New York Times - 5m
• 

  Trump Leaving Paris Climate Agreement Causes Rift With Big Oil

  Quitting the Paris climate deal for the second time was one of many first-day moves by Trump.
  
  Inc. - 1h

• He bought an abandoned tin mine in Phuket in 1984. Now, his hotel chain is worth over $200 million

  "I'm quite individualistic. I became an entrepreneur more by the lack of other avenues," says Ho Kwon Ping, the founder and executive chairman of Banyan Group.
  
  CNBC - 1h

• Elon Musk has his doubts about Stargate. Here’s why he may be right.

  Elon Musk is skeptical about Stargate, the AI joint venture that includes OpenAI, and in a rare occurrence, he may be right.
  
  MarketWatch - 1h
• 

  Trump Plan to Swap Tariffs for Tax Cuts Faces Opposition in Congress

  Tariffs only made up about 2 percent of annual revenue before.
  
  Inc. - 1h