Samsung Forecasts 931% Surge in Q1 Profit, Driven by AI and Chip Demand

The South Korean tech giant attributes the significant increase to a rebound in memory chip prices and strong demand for AI technologies.

Samsung Electronics projects a first-quarter operating profit of $4.9 billion, marking a 931% increase from the previous year.
The rise in profit is largely attributed to a rebound in memory chip prices and surging interest in AI technologies.
Nvidia shows keen interest in Samsung's next-generation high-bandwidth memory (HBM) chips, potentially boosting Samsung's stock.
Samsung's Galaxy S24 smartphone sales and advancements in AI-powered devices contribute to the profit surge.
Analysts predict a strong AI-driven memory upturn cycle, driving Samsung's earnings in 2024-25.