Samsung Electronics sees record high operating profit in Q3 driven by AI chip demand

Samsung Electronics said its operating profit rose nearly ninefold to a record high in the third quarter, driven by robust demand for AI chips.

The company’s shares still slid more than four percent despite the strong earnings.

The AI boom is impacting Alphabet’s traditional revenue service of ad generation, causing mixed results for Google, according to Jamie Hannah, deputy head of investments at VanEck.