Samsung posts record $80 billion profit in Q3 on AI chip boom
- The world's top memory chipmaker reported operating profit of 107.4 trillion won
Samsung's Q3 operating profit surged ninefold to a record $80 billion, driven by robust AI chip demand, despite investor concerns about AI spending durability.
- Samsung's record-breaking Q3 operating profit.
- The impact of robust AI chip demand on earnings.
- Investor sentiment regarding the durability of AI spending.
SEOUL: Samsung Electronics said on Thursday its operating profit rose nearly ninefold to a record high in the third quarter, driven by robust demand for AI chips, even as investors remained wary about the durability of AI spending.
The world’s top memory chipmaker reported operating profit of 107.4 trillion won ($80.04 billion) for the July-to-September period, in line with its estimate and up from 12.2 trillion won a year earlier.
Apple’s foldable iPhone hits stores with $2,000 price tag and scarce supply
Its cross-town rival SK Hynix on Wednesday reported strong earnings and an upbeat outlook, helping to ease market concerns that AI-driven chip earnings could lose momentum, driving up shares of Samsung and SK Hynix.