SEOUL, South Korea (AP) — SK Hynix says its fourth quarter net profit doubled from a year earlier to a record high.

South Korea's second-largest chipmaker said Thursday that its October-December earnings jumped to 3.2 trillion won ($3 billion) from 1.6 trillion won a year earlier.

Its quarterly sales and operating profit were also at the highest levels in the company's history.

Makers of semiconductors like SK Hynix have benefited from explosive demand for memory capacity in data centers and servers, while supplies remained tight.

SK Hynix and its bigger rival Samsung Electronics supply about three quarters of the world's DRAM chips that help run multiple programs faster in computers and servers.

The company rounded out 2017 with historic records as its annual net profit more than tripled to 10.6 trillion won ($10 billion).