Samsung Electronics expects a 13-fold profit increase in Q2 due to AI demand driving memory chip price growth.

Samsung Electronics is anticipated to report a 13-fold increase in its second-quarter profit, reaching 8.8 trillion won ($6.34 billion). The surge is due to the rising demand for AI technology, which has led to a rebound in memory chip prices. Samsung's semiconductor division is expected to have its second consecutive quarterly profit, driven by the demand for high-end DRAM chips used in AI chipsets, data center servers, and AI devices.

July 03, 2024
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