To cushion itself against the industry's volatile demand cycles, the company is racing to lock in long-term supply deals . Shares in SK Hynix closed down 9.6% on Wednesday, as the weaker-than-expected earnings reinforced jitters about the sustainability of aggressive AI spending by tech firms. DEMAND REMAINS STRONGDespite the market selloff, SK Hynix said demand for AI memory chips remained strong. "Major customers are still requesting more memory supply," SK Hynix President Song Hyun-jong said on an earnings call, adding ‌that it was seeking more long-term supply agreements to better manage chip ⁠price volatility. Long-term agreements, which SK Hynix said are typically for five years, include financial safeguards such as deposits to ensure contract implementation.