Samsung's Q3 profit beats estimates on AI chip demand
Samsung just posted a huge profit boost from its semiconductor division, thanks to the global rush for artificial intelligence (AI) tech.
Net income hit 12.01 trillion won, easily beating what analysts expected.
The surge comes as big names like OpenAI and Meta are amassing computing power for their AI services, fueling demand for memory chips—key parts that power today's hottest AI services.
Chip business pulls in $4.9 billion operating profit
In Q3, Samsung's chip business pulled in 7 trillion won ($4.9 billion) in operating profit, reclaiming its spot as the world's top memory chip maker by revenue.
Demand for DRAM and NAND chips (the stuff that helps your devices think faster) pushed up sales and sent Samsung's stock soaring 90% this year.
The company also landed major deals with AMD and is waiting on NVIDIA to greenlight its high-speed memory chips—signs that Samsung is betting big on an AI-driven future.