Samsung posts record profit in Q3 on AI chip boom
SMH•Samsung Electronics said third-quarter operating profit rose nearly ninefold to a record 107.4 trillion won ($80.04 billion), driven by demand for AI chips.
1. Record quarterly profit
Samsung Electronics said operating profit for the July-to-October period reached 107.4 trillion won ($80.04 billion), up from 12.2 trillion won a year earlier and in line with its estimate. The company attributed the increase to robust demand for AI chips.
2. AI spending concerns
Investors remained wary about the durability of AI spending. Strong earnings and an upbeat outlook from rival SK Hynix helped ease concerns that AI-driven chip earnings could lose momentum, and shares of both companies rose.
