AI chip boom pushes Samsung profits to record $80bn

Samsung Electronics says it expects a nine-fold surge successful its quarterly profits compared with a twelvemonth earlier, driven by surging request for representation chips utilized successful artificial quality (AI) information centres. Samsung estimates its operating profit for the three months to the end of September will jump to 107.4tn won (£61bn; $80bn), marking its fourth straight quarter of record earnings. The company ranks among the world's top memory‑chip producers, alongside SK Hynix and Micron of the United States, which supply components essential to AI‑focused firms such as Nvidia. Samsung, maker of the Galaxy Fold and S26 smartphones, is also anticipated to benefit from its newest foldable devices launched in August. The firm's complete third‑quarter net income is scheduled for release at the end of October. Large South Korean corporations commonly issue earnings previews to guide investors ahead of more detailed reports. Worldwide demand for computer chips that drive AI development has surged, lifting earnings and share prices of manufacturers tied to the technology. This heightened demand over recent years has created a global semiconductor shortage, boosting income for companies like Samsung. SK Hynix and Samsung's banal marketplace valuations crossed $1tn (£757bn) earlier this year, though their shares person since travel down pursuing concerns that tech stocks person been overvalued. Read the full story at BBC News →