South Korea · Samsung · Nvidia · Google · BBC Technology
Major South Korean companies tend to release previews of their earnings to advise investors ahead of more detailed reports
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There has been huge global demand for computer chips that power AI development, helping to lift the earnings and shares of manufacturers linked to the technology.
Key facts
- The tech giant estimates that its operating profit for the three months to the end of September will jump to 107.4tn won (£61bn; $80bn), its fourth quarter in a row of record earnings
- In June, South Korea unveiled plans for at least $880bn in projects led by Samsung and SK Hynix to build out the country's chip manufacturing capabilities in the coming years
- South Korea unveils $880bn chip and AI investment plan
- Investment in the industry has surged, with US tech giants including Google, Amazon and Meta pledging to pour more than $650bn into AI projects this year
Summary
Samsung Electronics says it expects a nine-fold surge in its quarterly profits compared with a year earlier, driven by surging demand for memory chips used in artificial intelligence (AI) data centres. The tech giant estimates that its operating profit for the three months to the end of September will jump to 107.4tn won (£61bn; $80bn), its fourth quarter in a row of record earnings. Samsung is one of the world's largest memory chip makers alongside local rival SK Hynix and Micron in the US, which produce chips crucial for AI firms like Nvidia. Samsung, which makes the Galaxy Fold and S26 smartphones, is also expected to get a boost from its latest folding devices that were launched in August. The firm's full third-quarter earnings will be released at the end of October.