AI chip boom pushes Samsung profits to record $80bn
The tech giant is also expected to get a boost from its latest folding devices that were launched in August.
AI chip boom lifts Samsung profits to record $80bn
Samsung is also one of the world's biggest smartphone makers
Samsung Electronics says it expects quarterly profits to rise nine-fold from a year earlier, fuelled by soaring demand for memory chips used in artificial intelligence (AI) data centres.
The tech giant estimates operating profit for the three months to the end of September will climb to 107.4tn won (£61bn; $80bn), marking its fourth straight quarter of record earnings.
Samsung is among the world's biggest memory chip makers, alongside local rival SK Hynix and US-based Micron, which produce chips vital for AI firms such as Nvidia.
Samsung, which makes the Galaxy Fold and S26 smartphones, is also expected to benefit from its latest folding devices, launched in August.
The company's full third-quarter results are due at the end of October.
Major South Korean companies typically issue earnings previews to inform investors before releasing more detailed reports.
Global demand for computer chips that support AI development has surged, boosting the earnings and share prices of manufacturers tied to the technology.
That demand spike in recent years has created a global semiconductor shortage, lifting sales for companies such as Samsung.
SK Hynix and Samsung's stock market valuations passed $1tn (£757bn) earlier this year, though their shares have since fallen amid concerns that tech stocks were overvalued.