Samsung Electronics Co. said Thursday its first-quarter net profit surged more than fivefold from a year earlier, driven by robust demand for high-end memory chips used in artificial intelligence (AI) applications.

Samsung Electronics reported an over eight-fold increase in first-quarter operating profits, hitting a new record and beating analysts' estimates.

Samsung Electronics Co. said Thursday its first-quarter net profit surged more than fivefold from a year earlier, driven by robust demand for high-end memory chips used in…

The AI boom is worsening a global memory chip shortage, which Samsung predicts will continue into 2027