Samsung Electronics sees robust AI demand after Q1 profit surges eightfold to set record

SEOUL: Samsung Electronics on Thursday reported record quarterly profit after an eightfold jump in earnings, saying it expects the momentum to continue as clients spend aggressively on AI infrastructure and drive up prices of its memory chips.

A boom in the construction of AI data centres has spurred chipmakers to allocate more production capacity to advanced chips that Nvidia uses in its so-called AI accelerators, ‌squeezing the supply ⁠of ⁠more conventional chips.