Samsung profits soar on demand for AI chips

This amounts to a fifteen-fold increase in profits compared to the previous year. Samsung’s semiconductors and memory chips are used, for example, in data centers for AI. Samsung also saw prices for these chips rise. In addition to chips, Samsung is also a major seller of smartphones and other electronic products.

This week, South Korea’s government raised expectations for economic growth thanks to strong exports of AI chips. In June, the country exported the largest amount of chips in its history, according to Seoul.

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