SK Hynix reported a record quarterly operating loss of 3.4 trillion won ($2.54 billion) for the first quarter, as the South Korean chipmaker experienced low demand and a fall in prices. The loss represents a reversal from the operating profit of 2.84 trillion won ($2.1 billion) in the same period last year. The world's second-largest memory chip maker expects that the increasing demand for high-performance servers used for artificial intelligence, such as ChatGPT, along with wider adoption of high-capacity memory products by customers, will boost sales. Shares were up 1.75 percent in afternoon trade after surging as much as 3.5 percent earlier Wednesday. The stock is up 16 percent year-to-date.