Samsung forecasts record $80 bn quarterly profit – What’s fuelling the jump?

Samsung Electronics, the world’s largest memory chipmaker, on Thursday forecast its quarterly profit would hit 107.4 trillion Korean won ($80.17 billion). The milestone would mark the first time a major technology company achieves the record-high numbers. The nearly nine-fold jump in Q3 earnings was powered by the global artificial-intelligence demand working in favour of the Big Tech firm.

Meanwhile, Samsung also said that its quarter-three revenue could soar 127% to 195 trillion Korean won from the previous year.