Samsung flags strong AI demand as Q2 profit soars on higher chip prices

Samsung Electronics forecasted robust artificial intelligence-driven demand for chips in the second half of this year, as it reported a more than 15-fold rise in its second-quarter operating profit.

“In the second half of 2024, AI servers are expected to take up a larger portion of the (memory) market as major cloud service providers and enterprises expand their AI investments,” Samsung said in a statement.