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Samsung reports record profit as South Korean chip giants benefit from global AI boom
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SEOUL, South Korea (AP) — South Korean technology giant Samsung Electronics on Thursday reported a record operating profit of 89.5…SEOUL, South Korea (AP) — 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.
Samsung’s report came a day after SK Hynix also reported a record second-quarter revenue of 60.5 trillion won ($42 billion).
Kim Jaejune, an executive of Samsung’s memory chip division, said the company expects the gap between chip supply and demand to widen further in 2027.
Samsung and SK Hynix together produce about two-thirds of the world’s memory chips.
Investor concerns were also heightened by the strong stock market debut of Chinese memory chipmaker ChangXin Memory Technologies, some analysts say.