Samsung Electronics just posted the kind of quarter that makes analysts run out of superlatives. The company’s Device Solutions division delivered KRW 53.7 trillion in operating profit for Q1 2026, pushing consolidated net profit to KRW 57.2 trillion. The engine behind those numbers is exactly what you’d expect: AI-optimized memory chips that the entire industry can’t seem to make fast enough.
The AI memory supercycle in full swing
The profit explosion traces directly back to high-bandwidth memory, or HBM, the specialized chips that power AI training and inference workloads. Samsung began mass production and sales of its HBM4 and SOCAMM2 chips designed specifically for NVIDIA’s Vera Rubin AI platform during Q1 2026.
Memory prices tell the rest of the story. DRAM prices climbed over 40% quarter-over-quarter in Q2 2026, while NAND prices surged more than 50% over the same period.
Analysts are already forecasting Q2 2026 operating profits in the range of KRW 84 to 86 trillion. If those numbers land, that would represent roughly an 18-fold year-over-year increase.
