Samsung's Q3 operating profit soared by 783%, AI memory demand surged

Samsung Electronics announced preliminary results for the third quarter, with operating profit soaring 783% year-on-year and increasing 20.01% quarter-on-quarter, slightly exceeding analysts' expectations. The surge in demand for artificial intelligence chips has driven profit growth in the memory business.

Samsung expects Q3 operating profit to be 107.4 trillion won (approximately 80.17 billion USD), with revenue of 195 trillion won, a year-on-year increase of 127%.