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South Korea’s SK Hynix, one of the world’s largest memory chipmakers, on Wednesday posted record quarterly revenue and profit, boosted by a strong demand for its high bandwidth memory used in generative AI chipsets.

Here are SK Hynix’s third-quarter results versus LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:

• Revenue: 24.45 trillion won ($17.13 billion) vs. 24.73 trillion won
• Operating profit: 11.38 trillion won vs. 11.39 trillion won

Revenue rose about 39% in the September quarter compared with the same period a year earlier, while operating profit surged 62%, year on year.

On a quarter-on-quarter basis, revenue was up 10%, while operating profit grew 24%.

SK Hynix makes memory chips that are used to store data and can be found in everything from servers to consumer devices such as smartphones and laptops.

The company has benefited from a boom in artificial intelligence as a key supplier of high-bandwidth memory or HBM chips used to power AI data center servers. 

“As demand across the memory segment has soared due to customers’ expanding investments in AI infrastructure, SK Hynix once again surpassed the record-high performance of the previous quarter due to increased sales of high value-added products,” SK Hynix said in its earnings release. 

HBM falls into the broader category of dynamic random access memory, or DRAM — a type of semiconductor memory used to store data and program code that can be found in PCs, workstations and servers.

SK Hynix has set itself apart in the DRAM market by getting an early lead in HBM and establishing itself as the main supplier to the world’s leading AI chip designer, Nvidia. 

However, its main competitors, U.S.-based Micron and South Korean-based tech giant Samsung, have been working to catch up in the space.

“With the innovation of AI technology, the memory market has shifted to a new paradigm and demand has begun to spread to all product areas,” SK Hynix Chief Financial Officer Kim Woohyun said in the earnings release.

“We will continue to strengthen our AI memory leadership by responding to customer demand through market-leading products and differentiated technological capabilities,” he added.

The HBM market is expected to continue to boom over the next few years to around $43 billion by 2027, giving strong earnings leverage to memory manufacturers such as SK Hynix, MS Hwang, research director at Counterpoint Research, told CNBC.

“[F]or SK Hynix to continue generating profits, it’ll be important for the company to maintain and enhance its competitive edge,” he added.

Celestica CEO Rob Mionis explained how his company designs and manufactures infrastructure that enables artificial intelligence in a Tuesday interview with CNBC’s Jim Cramer.

“If AI is a speeding freight train, we’re laying the tracks ahead of the freight train,” Mionis said.

He pushed back against the notion that the AI boom is a bubble, saying that the technology has gone from a “nice to have” to a “must have.”

Celestica reported earnings Monday after close, managing to beat estimates and raise its full-year outlook. The stock hit a 52-week high during Tuesday’s session and closed up more than 8%. Celestica has had a huge run over the past several months, and shares are currently up 253.68% year-to-date.

Mionis described some of Celestica’s business strategies, including how the Canadian outfit chose to move away from commodity markets and into design and manufacturing. He told Cramer that choice “has paid off in spades” for his company.

Celestica’s focus on design and manufacturing enables the company to “consistently execute at scale,” he added.

He detailed Celestica’s data center work, saying the company makes high-speed networking and storage system for hyperscalers, digital native companies and other enterprise names.

Mionis praised the company’s partnership with semiconductor maker Broadcom, saying Celestica uses Broadcom’s silicon in a lot of its designs.

“What it means for us is when they launch a new piece of silicon — so the Tomahawk 6 is their 1.6 terabyte silicon — when they launch that into the marketplace, they’ll work with us to develop products, and those products end up in the major hyperscalers.”

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Disclaimer The CNBC Investing Club Charitable Trust owns shares of Broadcom.