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AI chip boom lifts Samsung profits by 1,800%

By GhanaSummary Newsroom1 min read
AI chip boom lifts Samsung profits by 1,800%

South Korean technology giant Samsung Electronics says it expects to post a 19-fold jump in its profits, driven by global demand for artificial intelligence (AI) memory chips.

Research firm IDC said demand for semiconductors for data centres and other AI infrastructure has been "different from anything the memory industry has navigated", impacting the supply of chips for everyday electronics.

Its stock market value has more than doubled since the start of this year, while South Korean rival SK Hynix has jumped by more than 200%.

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