AI frenzy expected to have boosted Samsung Q2 profit 13-fold

Samsung Electronics is expected to post a 13-fold increase in second-quarter profit from a year earlier as demand for artificial intelligence technology fuels a rebound in memory chip prices. Operating profit for the world’s biggest maker of memory chips, smartphones and TVs likely rose to 8.8 trillion won ($6.34 billion) in the quarter ended June 30, according to the average of an LSEG SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate. That amount would be Samsung’s highest profit since the third quarter of 2022.