Why profit Is Trending Today?

SK Hynix is developing 3GB GDDR7 memory modules, potentially enabling high-end graphics cards with up to 24GB VRAM, and has reported record Q2 earnings driven by Nvidia's AI demand, outperforming Samsung.

SK Hynix reported record-breaking Q2 profits driven by surging AI chip demand, particularly for GDDR7 and HBM4 memory. The company plans to boost investments in AI chip production, aiming to double high-end AI chip sales. Despite Samsung's HBM4 delay, SK Hynix strengthens its lead in AI memory.

Ocado's earnings report boosted investor confidence with improved cash flow and profitability.

Ocado's shares surged following a strong half-year performance, driven by its technology unit and a retail tie-up with Marks & Spencer. The company aims to achieve cash flow positivity by 2025/26.