Samsung reports record profit as South Korean chip giants benefit from global AI boom
Samsung Electronics reported a record operating profit of $62 billion for the second quarter, driven by high demand for AI-related semiconductor chips. Despite these strong earnings, the company's stock price has faced volatility due to concerns over heavy capital expenditure and competition from China.
South Korean technology giant Samsung Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period, a day after crosstown rival SK Hynix also reported record earnings, as the world’s two largest memory chipmakers continue to ride the global artificial intelligence boom.
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