SK Hynix Inc.’s shares slid after record quarterly results failed to impress investors grappling with stagnant smartphone demand and questions about AI spending in 2025.

South Korea's SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier saw strong sales of advanced chips such as high-bandwidth memory (HBM) used in generative artificial intelligence chipsets.

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.

On Tuesday afternoon, President Donald Trump held a press conference to announce Stargate, a $500 billion artificial intelligence (AI) infrastructure project in the United States. He called it the "largest AI infrastructure project, by far, in history."

President Trump announced a major AI infrastructure investment of “at least $500 billion,” signaling a willingness to work alongside large tech companies.

Nvidia stock surged after the chipmaker was named a technology partner for a massive U.S. AI infrastructure project called Stargate.