Samsung posts record $62 billion profit — and investors sell off anyway

South Korean technology giant Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period, a day after crosstown rival Hynix also reported record earnings, as the world’s two largest memory chipmakers continue to ride the global artificial intelligence boom. D

Samsung’s chipmaking division posted a 250-fold increase in quarterly operating profit, while Meta announced an $8 billion hit to the company’s free cash flow.

Although supply constraints are still severe and demand for its memory chips relentless, there is still skepticism among investors about the longevity of the AI capex boom and the threat of cheap chips from China.

Samsung SDI reported an operating profit for the second quarter, its first in seven quarters, and the figure far exceeded market expectations. Operating profit was 203.8 billion won ($141.6 million), the company said Thursday. Analysts polled by Yonhap Infomax had projected an operating loss of 14.8 billion won. A year

Samsung Electronics achieved its highest-ever quarterly operating profit, fueled by strong AI chip demand. Rival SK Hynix also reported record revenue, reflecting industry strength. However, investor sentiment declined due to expansion plans and Chinese competition. Both companies are investing heavily in new chipma