Samsung Electronics on Thursday reported third-quarter preliminary operating profit of 107.40 trillion won ($80.2 billion), surging past 100 trillion won for the first time in the company’s history as booming demand for artificial intelligence continues to fuel its chips business.
Quarterly operating profit jumped 782% from a year earlier. Revenue came in at about 195 trillion won, up nearly 127% from the same period last year.
Samsung, the world’s largest memory chipmaker, has benefited from surging demand for memory used in AI infrastructure. In the second quarter, the company posted record revenue of 171.5 trillion won and record operating profit of 89.5 trillion won, driven by its memory business.
The company has also stepped up investments and partnerships tied to AI. In September, Samsung announced a strategic partnership with French artificial intelligence startup Mistral AI, with plans to deploy the startup’s AI models across its semiconductor operations.
Samsung is expected to release its full third-quarter earnings, including a breakdown by business division, later this month.
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
