Samsung profits surge 1,800% on AI chip demand

Samsung has posted its third consecutive quarter of record profit, driven entirely by the AI-fuelled semiconductor boom pushing chip prices sharply higher. The 1,800% profit jump illustrates just how lopsided demand has become, with memory chip supply still struggling to keep pace. SK Hynix, Samsung's chief rival, is meanwhile preparing a multibillion-dollar US IPO expected to land this Friday.