Samsung forecasts record third-quarter profit of $80 billion on the back of AI boom
CNBC • • business
Key Points:
- Samsung Electronics reported a preliminary third-quarter operating profit of 107.40 trillion won ($80.2 billion), surpassing 100 trillion won for the first time due to strong AI-driven chip demand.
- The quarterly operating profit increased by 782% compared to the same period last year, with revenue rising nearly 127% to about 195 trillion won.
- As the world's largest memory chipmaker, Samsung has benefited significantly from increased demand for memory used in AI infrastructure, following record revenue and profit in the second quarter.
- The company is expanding investments and partnerships in AI, including a recent strategic collaboration with French AI startup Mistral AI to integrate its models into Samsung's semiconductor operations.
- Samsung plans to release its full third-quarter earnings report, including detailed business division performance, later this month.
