{
  "id": 12762291,
  "title": "AI chip boom pushes Samsung profits to record $80bn",
  "url": "https://urgent.news/2026/10/08/ai-chip-boom-pushes-samsung-profits-to-record-80bn-12762291",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T01:59:54.000Z",
  "source": {
    "name": "BBC News",
    "slug": "bbc-news",
    "url": "https://www.bbc.co.uk/news/articles/c687z8127302o?at_medium=RSS&at_campaign=rss"
  },
  "original_language": "en",
  "account": "Samsung Electronics anticipates a staggering nine-fold increase in its quarterly profits compared to the previous year, primarily due to soaring demand for memory chips utilized in artificial intelligence (AI) data centers. The company projects its operating profit for the quarter ending September 30th will soar to 107.4tn won (£61bn; $80bn), marking its fourth consecutive quarter of record earnings. As one of the world's leading memory chip producers alongside SK Hynix and US-based Micron, Samsung supplies chips essential for AI firms like Nvidia. The tech giant, which manufactures popular smartphones such as the Galaxy Fold and S26, is also poised to benefit from its latest folding devices introduced in August.\n\nFull earnings for the third quarter will be disclosed by the end of October. In recent years, there has been tremendous global demand for computer chips that drive AI development, which has fueled the earnings and stock prices of manufacturers tied to the technology. This surge in demand has led to a scarcity of semiconductors worldwide, driving up sales for companies like Samsung, with its valuation surpassing $1tn (£757bn) earlier this year. Major US tech firms, including Google, Amazon, and Meta, have committed to investing over $650bn in AI projects this year. In June, South Korea unveiled plans for at least $880bn in projects led by Samsung and SK Hynix to expand the country's chip manufacturing capabilities in the years to come. Rival Asian firms in Japan, China, and Taiwan are also heavily investing in chip plants as AI demand surges. The chip shortage, driven by soaring demand, has prompted firms like Samsung to raise prices, making products like smartphones and computers pricier.",
  "summary": "The tech giant is also expected to get a boost from its latest folding devices that were launched in August.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "BBC Technology",
        "title": "AI chip boom pushes Samsung profits to record $80bn",
        "url": "https://urgent.news/2026/10/08/ai-chip-boom-pushes-samsung-profits-to-record-80bn",
        "published": "2026-10-08T01:31:56.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}