Samsung Electronics, the world's largest memory chip maker, said operating profit jumped 932.8% in the first quarter ending March.
"The company posted KRW 71.92 trillion in consolidated revenue on the back of strong sales of flagship Galaxy S24 smartphones and higher prices for memory semiconductors. Operating profit increased to KRW 6.61 trillion as the Memory Business returned to profit by addressing demand for high value-added products," Samsung Electronics said in a statement on Tuesday.
As AI models become more complex and datasets become larger, these models need memory chips with higher capacities and faster speeds to cater to these workloads.
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