Samsung posts record profit in Q3 on AI chip boom

Samsung Electronics recorded operating profit of 107.4 trillion won, equivalent to $80.04 billion, for the July-to-September quarter, Business Recorder reported. The figure was a record and was almost nine times the 12.2 trillion won earned in the same period a year earlier. The result matched the company’s earlier estimate.

Strong demand for chips used in artificial intelligence systems supported the performance, although investors have questioned whether spending on AI will remain durable. South Korean peer SK Hynix reported strong quarterly earnings on Wednesday and expressed confidence in its outlook, which helped reduce concerns about a slowdown in AI-related chip earnings and lifted both companies’ shares. The report highlights how expectations for continued AI investment are shaping results and investor sentiment in the global memory-chip industry.