SEOUL, April 23 -- Chip giant SK hynix logged a record quarterly net profit on Thursday thanks to the artificial intelligence boom, shrugging off concerns that the Middle East war could drag on the semiconductor industry.

Huge investments from governments and major technology companies are driving frenzied demand for the hardware that powers generative AI tools.

The South Korean firm posted net profit of 40.3 trillion won (US$27.2 billion; RM107.70 billion) in the first quarter, up nearly 400 percent year-on-year.

The figure smashed estimates of 29.4 trillion won (RM78.57 billion) in a Bloomberg analyst survey.

Revenue surpassed 50 trillion won (RM133.62 billion) for the first time in a single quarter, while operating profit nearly do...