SK Hynix Forecasts AI Chip Shortage Through 2030

SK Hynix released its third-quarter results with a sharp focus on the future of artificial intelligence. The South Korean memory chip manufacturer stated that supply constraints are expected to persist through 2030.

In the consumer sector, Coca-Cola raised its annual profit forecast for the third consecutive time. The company now expects growth of at least 11% in adjusted earnings per share for the full fiscal year.

The company achieved these results even with weak demand in the North American market. CEO Henrique Braun highlighted that operational discipline allowed the firm to overcome an uneven economic environment pressured by inflation.

The beverage maker's organic revenue rose 7% during the quarter. Global sales volume increased 5%, driven by markets outside the United States where volume remained flat.

Coca-Cola executives noted that consumers across various income levels are seeking value in the face of economic uncertainty. Shares of the company fell less than 1% following the release of its consumer outlook.