Samsung Electronics said its operating profit for the July-September quarter hit a record 107.4 trillion won ($80.5 billion), as strong demand for the memory chips that power artificial intelligence systems kept lifting its results. The company disclosed the figures in a regulatory filing on Thursday.
Revenue for the same period also reached an all-time high of 195.3 trillion won ($146 billion). It was the fourth consecutive quarter in which the company set records for both profit and revenue.
The announcement followed a similar one from domestic rival SK Hynix, which reported its own record third-quarter profit a day earlier. Together, the two South Korean chipmakers control about two-thirds of the global memory market, and both are facing what the report describes as seemingly insatiable demand amid the worldwide AI boom.
In a statement, Samsung said it expects demand for its AI-related chips to accelerate through 2027 and to outpace available supply, as customers rush to expand their AI infrastructure. The company said it plans to concentrate on supplying advanced memory and storage products used in AI servers, including high-bandwidth memory chips, server DRAMs and solid-state drives.
South Korean technology firms are pouring money into chip factories and data centers as the country pursues its AI ambitions. In June, Samsung and SK Hynix announced plans to invest a combined 800 trillion won ($599 billion) in a new chipmaking hub in the country's southwest, aiming to capitalize on demand driven by AI.
Not everyone is convinced the spending will pay off. Some analysts have questioned whether the heavy investment will deliver returns in the long run.
South Korea's central bank has also sounded a warning. It has said the country's trade-dependent economy is becoming too reliant on semiconductors, a concentration that it said could deepen the damage if the AI sector were to suffer a downturn.
