Samsung forecasts 19-fold Q2 operating profit surge on AI chips
Samsung is about to post a massive 19-fold jump in its second-quarter operating profit, mostly because everyone wants chips for artificial intelligence.
The company expects to make 89.4 trillion won ($58.4 billion) from April to June, way up from last year and even higher than what analysts guessed.
Samsung projects 171 trillion won revenue
Samsung's revenue is set to hit an all-time high of 171 trillion won this quarter, up 129% from last year.
The real MVPs? High-bandwidth memory (HBM) chips that power AI tech, plus classic DRAM and NAND flash chips used in everything from laptops to servers.
Prices for these chips have soared, up by as much as 53%, and Samsung's huge production capacity means it's perfectly placed to cash in while supplies are tight.
More details on how each division performed are coming July 30.