Samsung Electronics posts record quarterly profit on AI boom
Samsung Electronics reported a record quarterly operating profit of 57.2 trillion won, driven by strong sales of AI-related chips. The company expects continued strong demand for memory chips in the second quarter as AI infrastructure buildout continues.
Samsung Electronics achieved a record quarterly operating profit of 57.2 trillion won in the first quarter, a 750% increase from the previous year, driven by strong sales of high-performing chips crucial for artificial intelligence. The company's chips division saw a significant rise in profit to 53.7 trillion won. Samsung's memory arm surpassed its quarterly sales record by addressing high-value-added AI demand. The company expects strong memory demand to continue through the second quarter. Samsung's shares have risen around 300% over the past year as the AI boom boosts South Korean growth. The company faces risks from a threatened strike by unionized staff demanding higher pay and bonuses.
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