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Samsung flags 19-fold jump in profit, but shares slump on jitters AI boom may stall
Samsung reported a significant profit jump, driven by strong AI chip demand. However, its stock declined amid concerns about the AI boom's durability. Memory chip prices continued to climb, boosting Samsung's earnings considerably. Analysts noted that bonus provisions impacted the reported operating profit figures. Future growth depends on sustained AI infrastructure spending by major technology firms.
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channelnewsasia.com
Samsung likely to post 18-fold jump in profit on surging AI demand for memory
SEOUL, July 6 : Samsung Electronics is likely to estimate that its operating profit jumped about 18-fold to another record high from a year earlier in the second quarter, as AI…
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newsbytesapp.com
AI boom to drive Samsung's Q2 profit up nearly 18x
Samsung Electronics is poised to report an 18-fold increase in operating profit for Q2, driven by soaring AI-related memory demand and rising chip prices.
