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South Korean technology company Samsung Electronics expects a massive 1,800 per cent leap in its second-quarter operating profit as the global AI boom drives insatiable demand for memory chips.
The world’s largest memory chipmaker estimated its April-June operating profit at 89.4 trillion won ($58.4 billion) on Tuesday, beating market forecasts by 6.2 per cent and setting a new quarterly record.
The company also projected that revenue surged 129 per cent to 171 trillion won ahead of its final earnings report at the end of the month.
Frenzied demand for advanced chips used in artificial intelligence data centres continues to fuel historic profits for South Korean tech giants.
This financial surge helped Samsung settle a high-stakes labour dispute over worker bonuses in May and has reinforced a massive 800 trillion won joint investment with rival SK hynix to build a new semiconductor manufacturing hub.
The industry’s explosive growth has also generated a significant tax windfall for South Korea.
Government officials plan to channel these new funds into advanced AI infrastructure, youth housing programmes, and startup initiatives.
The chip boom has even transformed local pop culture, elevating engineering jobs at companies like Samsung to the same elite social and marriage market status as doctors and lawyers.
