AI chip boom pushes Samsung profits to record $80bn
Samsung Electronics projects a nine-fold increase in quarterly profits, reaching approximately $80 billion, driven by high demand for AI-related memory chips. This marks the company's fourth consecutive quarter of record-breaking earnings.
Why it matters
The surge in Samsung's profits reflects the massive global economic impact of the artificial intelligence boom and the critical role of semiconductor manufacturers.
Image source, EPA Image caption, Samsung is also one of the world's biggest smartphone makers
Samsung Electronics says it expects a nine-fold surge in its quarterly profits compared with a year earlier, driven by surging demand for memory chips used in artificial intelligence (AI) data centres.
The tech giant estimates that its operating profit for the three months to the end of September will jump to 107.4tn won (£61bn; $80bn), its fourth quarter in a row of record earnings.
Samsung is one of the world's largest memory chip makers alongside local rival SK Hynix and Micron in the US, which produce chips crucial for AI firms like Nvidia.
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