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Samsung’s AI-Driven Success
Throughout 2024, the electronics giant Samsung anticipates the continued success of artificial intelligence (AI) technologies. In a recent earnings release, the company’s chip division experienced a significant boost in operating profit, exceeding 1.9 trillion won ($1.4 billion) during the first quarter compared to the previous year.
Impact of AI on Samsung
Jaejune Kim, the director of Samsung’s semiconductor division, highlighted the growing significance of AI in driving customer demand for advanced products. The proliferation of AI providers has led to a substantial increase in training data, resulting in heightened performance and storage requirements.
During an investor call, Kim emphasized the pivotal role of AI in driving demand for Samsung’s memory chips and ultra-high density hard drives. These components are essential for data storage and processing, aligning with the company’s strategic focus on AI-driven technologies.
Financial Growth and Future Prospects
Samsung’s overall net profit surged nearly five-fold, reaching 6.6 trillion won ($4.8 billion). Following this impressive financial performance, the company’s shares experienced a 1% increase in Seoul trading.
The company’s positive outlook for the future is grounded in the continued advancement of AI technologies. Kim emphasized that the growing supply of AI servers and associated cloud services is expected to drive demand for high-bandwidth memory chips, servers, and storage solutions.
By leveraging AI capabilities and anticipating industry trends, Samsung remains poised to capitalize on the evolving landscape of technological innovation and data-driven solutions.
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