Samsung Q2 profit surges 15-fold on strong AI demand

) clocked an exponential rise in its second-quarter profit as the technology conglomerate continued to benefit from artificial intelligence-driven demand for memory chips and electronic devices.

But growth in Samsung’s earnings comes on the back of increased demand for memory chips from the AI industry, particularly high-bandwith memory chips. Samsung said it will begin mass producing advanced HBM chips from this year, with a view to win more orders from AI darling NVIDIA Corporation (NASDAQ:

Samsung’s device sales, particularly those of its flagship S-series smartphones, also benefited from AI integration.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

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