Seoul –
Samsung Electronics predicts demand for artificial intelligence will remain strong and supply of some high-end chips will decline, helping rivals benefit from a solid recovery in the battered global memory chip market.
The world’s largest memory chip maker’s upbeat outlook sent its shares 1.8% higher on Tuesday, after the company reported a more than 10-fold rise in first-quarter operating profit.
But so far this year, Samsung shares are down 0.8%, lagging SK Hynix’s 24% gain, as it tries to overtake its smaller rival in supplying top chips like high-bandwidth memory ( HBM) to AI leader Nvidia. .
