AI chip wave drives Samsung's profit to record levels
Driven by global demand for artificial intelligence chips, Samsung expects to boost its profit to 107.4 trillion won in the third quarter, achieving record earnings for the fourth consecutive quarter.
The global demand for artificial intelligence technologies has positively impacted Samsung's financial results, carrying the company's profit to record levels and ensuring record earnings for the fourth consecutive quarter.
Record Profit Expectation
Technology giant Samsung forecasts that its profit before interest and tax will rise to 107.4 trillion won in the three-month period ending in late September. This development reveals that the company has achieved record earnings for the fourth consecutive quarter.
Position in the Industry and Products
Samsung is among the world's largest memory chip manufacturers, alongside SK Hynix and Micron, which produce critical chips for Nvidia. The company also expects support from its foldable devices launched in August, including the Galaxy Fold and S26 smartphone models.
Semiconductor Market
Intense demand for computer chips powering artificial intelligence development efforts is boosting manufacturers' earnings and shares. While the rising demand has led to a global semiconductor shortage, Samsung's market value exceeded 1 trillion dollars earlier this year.
Global and Local Investments
US-based tech giants have committed to channeling more than 650 billion dollars into artificial intelligence projects. Meanwhile, South Korea has announced a project plan of at least 880 billion dollars to increase chip capacity, led by Samsung and SK Hynix.