Consider the following statements:

I. In the finals of the 45th Chess Olympiad held in 2024, Gukesh Dommaraju became the world’s youngest winner after defeating the Russian player Ian Nepomniachtchi.

II. Abhimanyu Mishra, an American chess player, holds the record of becoming world’s youngest ever Grandmaster.

Which of the statements given above is/are correct?

The correct option is II only.

Analysis of Statement I:
Statement I is incorrect due to multiple factual inaccuracies:
1. The Chess Olympiad is a team event played in a Swiss-system format rather than a knockout tournament. Therefore, there are no individual "finals" where two players play a match to determine the youngest winner.
2. Due to FIDE's suspension of the Russian chess federation from team events, the Russian team did not compete in the 45th Chess Olympiad in Budapest in 2024. Consequently, Ian Nepomniachtchi did not play in the tournament. While Gukesh Dommaraju had a phenomenal tournament and led the Indian team to a historic gold medal, the statement describing him defeating Nepomniachtchi in the finals is incorrect.

Analysis of Statement II:
Statement II is correct:
Abhimanyu Mishra, an American chess player, achieved the Grandmaster (GM) title on June 30, 2021, at the age of 12 years, 4 months, and 25 days. In doing so, he broke the long-standing record of Sergey Karjakin, who had held the record of youngest Grandmaster since 2002 (achieving it at the age of 12 years and 7 months).

Therefore, only Statement II is correct, making II only the correct choice.