Creator: Joyce Lee and Heekyong Yang
SEOUL (Reuters) – Samsung Electronics expects sturdy demand for synthetic intelligence-driven chips within the second half of this yr because it reported a greater than 15-fold enhance in second-quarter working revenue.
“AI servers are anticipated to seize a bigger share of the (reminiscence) market by the second half of 2024 as main cloud service suppliers and enterprises broaden investments in AI,” Samsung (KS:) mentioned in an announcement.
The synthetic intelligence increase drove a rebound in semiconductor costs, lifting June-quarter earnings from a low base a yr in the past.
The world’s largest maker of reminiscence chips, smartphones and televisions mentioned working revenue rose to 1.04 trillion gained ($7.52 billion) from April to June from 670 billion gained in the identical interval final yr.
That is in keeping with Samsung’s forecast of 10.4 trillion gained earlier this month.
It was Samsung’s highest working revenue for the reason that third quarter of 2022, because the chip unit returned to being a money cow for the tech large after a decline in enterprise as a result of weak post-pandemic demand for units that use the chips.
Income grew 23% to KRW 74 trillion.
(1 USD = 1,383.0100 Korean Received)
