Samsung forecasts record third-quarter profit of $80 billion as AI boom fuels chip demand

Samsung Electronics has forecast a record third-quarter operating profit of 107.4 trillion won, which is equivalent to $80.17 billion. This represents a nearly nine-fold jump in earnings, driven by strong memory sales due to booming demand for AI chips.

The forecast marks Samsung's fourth straight quarter of record operating profit, and it is slightly ahead of an estimated 106.1 trillion won. According to New Straits Times, a deepening global memory chip shortage, caused by AI infrastructure investment outpacing supply growth, has driven chip prices up sharply.

Analysts had cut their estimates, but the results turned out to be better than expected. Investors will be closely watching for details of Samsung's shareholder return policy during its earnings call later this month, according to an analyst at Yuanta Securities.

Brief written by urgent.news from CNBC World, New Straits Times — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.