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Samsung Electronics forecasts a nine-fold increase in quarterly profits to 107.4 trillion won ($80 billion), driven by high demand for memory chips used in AI data centers. This marks Samsung's fourth consecutive quarter of record earnings, alongside competitor SK Hynix and U.S.-based Micron Technology, as the global appetite for semiconductors crucial for AI growth continues to surge.
Written locally by qwen2.5:14b on 2026-10-08,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Samsung Electronics forecasts its operating profit will jump to 107.4tn won (£61bn; $80bn) for the three months ending September 2023, marking its fourth consecutive quarter of record earnings. This surge is driven by high demand for memory chips used in artificial intelligence data centers. Samsung, alongside SK Hynix and US-based Micron, dominates the global semiconductor market. The company's profits have also benefited from strong sales of its latest folding smartphones released in August 2023. Despite recent concerns about overvaluation in tech stocks leading to a drop in share prices, Samsung’s stock market valuation crossed $1tn earlier this year, reflecting significant investor interest in the semiconductor sector amid an ongoing global chip shortage.
Written for “Samsung Profits Soar” on 2026-10-08,
grounded in this article and the 0 other(s) covering the same event.
- Published
Samsung Electronics says it expects a nine-fold surge in its quarterly profits compared with a year earlier, driven by surging demand for memory chips used in artificial intelligence (AI) data centres.
asserted
it → publish → centres
The tech giant estimates that its operating profit for the three months to the end of September will jump to 107.4tn won (£61bn; $80bn), its fourth quarter in a row of record earnings.
asserted
profit → estimate → earnings
Samsung is one of the world's largest memory chip makers alongside local rival SK Hynix and Micron in the US, which produce chips crucial for AI firms like Nvidia.
asserted
which → produce → Nvidia
Samsung, which makes the Galaxy Fold and S26 smartphones, is also expected to get a boost from its latest folding devices that were launched in August.
asserted
that → make → August
The firm's full third-quarter earnings will be released at the end of October.
asserted
earnings → release → October
Major South Korean companies tend to release previews of their earnings to advise investors ahead of more detailed reports.
asserted
companies → tend → reports
There has been huge global demand for computer chips that power AI development, helping to lift the earnings and shares of manufacturers linked to the technology.
asserted
that → power → technology
The surge in demand in recent years has resulted in a shortage of semiconductors globally, pushing up sales for firms like Samsung.
SK Hynix and Samsung's stock market valuations crossed $1tn (£757bn) earlier this year, though their shares have since come down following concerns that tech stocks have been overvalued.
asserted
stocks → result → concerns
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