Samsung expects profits to soar with boost from AI

The South Korean tech giant is benefiting from the AI boom which has lifted the prices of advanced chips.

British Broadcasting CorporationWatchHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUK General ElectionUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC VerifySportBusinessExecutive LoungeTechnology of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveAudioWeatherNewslettersSamsung expects profits to jump by more than 1,400%10 hours agoBy João da Silva, Business reporterShareGetty ImagesWidespread adoption of AI has led to a surge in demand for advanced computer chips.Samsung Electronics expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year.

An artificial intelligence (AI) boom has lifted the prices of advanced chips, driving up the firm's forecast for the second quarter.

The South Korean tech giant is the world's largest maker of memory chips, smartphones and televisions.

The announcement pushed Samsung shares up more than 2% during early trading hours in Seoul.

The firm also reported a more than 10-fold jump in its profits for the first three months of this year.

https://www.bbc.com/news/articles/c25l0yyzjvno

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