South Korea's Samsung Electronics said on Thursday that, driven by strong demand for AI chips, its third-quarter operating profit increased nearly nine times to a record high, even though investors are still cautious about the sustainability of AI spending. The world's largest memory chip manufacturer reported operating profit of 107.4 trillion won from July to October, which was in line with its expectations, and increased from 12.2 trillion won in the same period last year. Its rival in the same city, SK Hynix, announced strong results and an optimistic outlook on Wednesday, which helped ease market concerns that AI-driven chip earnings might lose momentum, thereby boosting the stock prices of Samsung and SK Hynix.

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