By Joyce Lee and Heekyong Yang
SEOUL (Reuters) -Samsung Electronics forecasted strong synthetic intelligence-driven demand for chips within the second half of this yr, because it reported a greater than 15-fold rise in its second-quarter working revenue.
“In the second half of 2024, AI servers are expected to take up a larger portion of the (memory) market as major cloud service providers and enterprises expand their AI investments,” Samsung (KS:) mentioned in a press release.
Rebounding semiconductor costs stoked by the AI increase lifted June quarter earnings from a low base a yr in the past.
The world’s largest maker of reminiscence chips, smartphones and TVs mentioned working revenue rose to 10.4 trillion gained ($7.52 billion) in April-June, up from 670 billion gained a yr earlier.
That was according to Samsung’s personal estimate of 10.4 trillion gained flagged earlier this month.
It was Samsung’s highest working revenue for the reason that third quarter of 2022, spurred by the chip division returning to type because the tech large’s money cow enterprise after a hunch attributable to weak post-pandemic demand for devices that use the chips.
Income rose 23% to 74 trillion gained.
($1 = 1,383.0100 gained)
