Samsung Electronics has forecast record quarterly earnings, marking a turnaround for the South Korean technology group as demand surges for chips during the global race to build out data centres powering artificial intelligence.
The world’s largest memory chipmaker on Thursday estimated that its fourth-quarter operating profit trebled to about Won20tn ($13.8bn) from a year earlier, surpassing analyst estimates of Won17tn. The company forecast a 23 per cent revenue increase to Won93tn.
The strong guidance highlights the continued AI boom with Samsung now seen as one of the biggest beneficiaries of the chip supply crunch sparked by the industry’s focus on high-bandwidth memory chips used in AI hardware.