Continued AI boom secures another record profit for Samsung

South Korean tech giant Samsung Electronics has announced a staggering leap in its operating profit for the second quarter, achieving a 19-fold increase over the same period last year. This remarkable financial performance, detailed in a company press release, is primarily fueled by the ongoing artificial intelligence boom and the resulting demand for advanced memory chips.

From April to June, Samsung posted an operating profit of $62 billion (404 billion Danish kroner), with its revenue reaching 171.49 trillion won ($430 billion Danish kroner), marking a 130 percent increase year-over-year. These results met market expectations, according to the South Korean news agency Yonhap.

Samsung, along with SK Hynix and U.S. firm Micron, are leading producers of High Bandwidth Memory (HBM) chips, which are specifically designed for AI processors used in applications like generating chatbot responses and creating realistic images. Analysts anticipate that the growth trajectory for these companies will likely continue as major North American tech firms ramp up their investments in AI data centers.