Samsung Electronics forecast demand for artificial intelligence would hold strong and tighten supply of some high-end chips, joining rivals in benefiting from a solid rebound in the battered global memory chip market.
The upbeat outlook from the world’s largest memory chip maker sent its shares 1.8% higher on Tuesday after it reported a more than 10-fold rise in first-quarter operating profit. But so far this year Samsung shares are down 0.8%, lagging SK Hynix’s 24% gain, as it seeks to catch up with its smaller rival in the supply of top-end chips such as high bandwidth memory to AI leader Nvidia .
Samsung also said it will step up offerings of high-end solid-state drive products to meet AI server demand, and expected high-end memory chip supply to become tighter toward year-end due to capacity being focused on HBM, echoing comments from SK Hynix last week. Jump in operating profit The South Korean company’s first-quarter revenue rose 13% to 71.9 trillion won , including a 96% increase in memory chip revenue to 17.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Samsung Electronics' operating profit jumps 932.8% in first quarter, beats expectationsSamsung Electronics on Tuesday said operating profit for the first quarter jumped as memory chip prices rebounded on the back of AI optimism.
Read more »
Samsung Electronics' operating profit jumps 933% in first quarter, beats expectationsSamsung Electronics on Tuesday said operating profit for the first quarter jumped as memory chip prices rebounded on the back of AI optimism.
Read more »
Samsung’s having a huge sale on some of its best 8K TVs — up to $3,000 offDifferent models of the Samsung QN800C QLED 8K TV and Samsung QN900C QLED 8K TV are available from Samsung with lowered prices, for discounts of up to $3,000.
Read more »
Bacteria 'nanowires' could help develop green electronicsEngineered protein filaments originally produced by bacteria have been modified by scientists to conduct electricity.
Read more »
Microsoft's bullish PC outlook makes us want to buy more of this electronics retailerThe Investing Club holds its 'Morning Meeting' every weekday at 10:20 a.m. ET.
Read more »
3 reasons why you should own this electronics stock3 reasons why you should own this electronics stock
Read more »