AI chip boom pushes Samsung profits to record $80bn
Summary
Samsung Electronics expects its profit for the three months ending in September to increase nine times from last year, reaching about $80 billion. This growth is mainly due to strong demand for memory chips used in artificial intelligence (AI) data centers.Key Facts
- Samsung expects operating profit of 107.4 trillion won (about $80 billion) for the July-September quarter.
- This would be Samsung’s fourth straight quarter of record profits.
- The profit surge is driven by high demand for memory chips used in AI data centers.
- Samsung is a leading maker of memory chips, competing with SK Hynix (South Korea) and Micron (US).
- Samsung also makes popular smartphones like the Galaxy Fold and S26.
- The company recently launched new folding phones in August, which may add to profits.
- Global demand for AI chips has caused a worldwide shortage of semiconductors.
- Samsung and SK Hynix reached a stock market valuation over $1 trillion earlier this year but have since fallen somewhat.
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