Samsung reports record $62 billion profit as AI boom drives chip demand

Seoul: Samsung Electronics posted a record operating profit on Thursday, becoming the latest South Korean chipmaker to benefit from the global artificial intelligence boom.

The technology giant reported an operating profit of 89.5 trillion won, about $62 billion, for the April-June quarter. The results came a day after rival SK Hynix also reported record earnings.

Together, Samsung and SK Hynix produce roughly two-thirds of the world’s memory chips. Demand has surged as AI companies scale up data centers and buy more high-performance memory.

Despite the strong profits, shares of both companies fell sharply this week in South Korea’s volatile stock market. Analysts said retail investors are concerned about massive spending plans to expand manufacturing capacity, and about growing competition from Chinese chipmakers.

The results highlight how the AI boom is reshaping the global semiconductor industry, even as chipmakers face pressure to invest more to stay ahead.