Samsung said its memory chip business returned to profitability, and prices continued to rise thanks to demand for DRAM chips used in genAI applications.

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Samsung's operating profit surged 930% in the first quarter of 2024 due to increased demand for its servers, memory chips, and storage used in AI applications. The company's semiconductor business was the main driver of growth.

Samsung’s operating profit soars 930% as AI tailwinds drive demand for memory chips