Samsung Electronics reported record first-quarter operating profit of $38.4 billion

Samsung Electronics reported record first-quarter operating profit of $38.4 billion

Samsung Electronics said Thursday that operating profit soared 750 percent on-year to a record high in the first quarter thanks to strong sales of chips crucial for artificial intelligence, and forecast continued  healthy demand in the next three months.

The South Korean technology giant has emerged as a key player -- along with rival SK hynix -- in the supply of high-performing chips in demand from companies racing to keep up with the fast-evolving AI industry.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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