Samsung operating profit up 1,800% in second quarter on AI boom

SEOUL: South Korean technology giant Samsung Electronics posted on Thursday (Jul 30) a massive 19-fold jump in second-quarter operating profit from a year earlier, buoyed by sustained AI-driven demand for memory chips.The world's largest memory chipmaker posted April-June operating profit of 89.49 trillion won (US$62 billion) - up 1,813.8 per cent on-year, the company said in a regulatory filing.The firm posted revenue of 171.49 trillion won, up 130 per cent from a year earlier.Its net profit soared 1,299.9 per cent on-year to 71.62 trillion won, it said. The earnings met market expectations, South Korea's Yonhap news agency said, citing its own financial data firm.The boom results were posted despite South Korean stocks suffering a sharp sell-off on Wednesday as nervous traders unwound AI