AI's insatiable appetite for chips helps Samsung rake in a record $80.5 billion in quarterly profit

Samsung Electronics said Thursday that its operating profit for the last quarter reached a record 107.4 trillion won ($80.5 billion), fueled by surging demand for its computer memory chips used in artificial intelligence systems.

AI's insatiable appetite for chips helps Samsung rake in a record $80.5 billion in quarterly profit

TL;DR

  • Samsung Electronics achieved a record operating profit of 107.4 trillion won ($80.5 billion) in the last quarter.
  • Revenue also hit an all-time high of 195.3 trillion won ($146 billion).
  • Surging demand for memory chips used in artificial intelligence systems is fueling these record profits.
  • Samsung expects AI-related chip demand to outpace supply through 2027.
  • The company will focus on supplying advanced memory chips and storage for AI servers.
  • Samsung and SK Hynix plan to invest $599 billion in a new chipmaking hub in South Korea.
  • Concerns exist regarding the sustainability of these investments and the economy's over-reliance on chips.