STORY: :: Samsung
Samsung Electronics on Tuesday projected first-quarter earnings would exceed its entire profit for last year.
The world's largest memory chipmaker estimated an operating profit of $37.9 billion for the January to March period as AI infrastructure demand drove chip prices higher.
That's an eightfold jump from the previous year and far above analyst estimates.
The record-high results also nearly triple Samsung's quarterly operating profit record hit in the fourth quarter last year.
The company has emerged as one of the major beneficiaries of the AI data center boom.
:: Samsung
That demand has constrained supplies of chips, and nearly doubled prices in the first quarter alone.
Research firm TrendForce expects memory chip prices to increase another 50% or more in the current quarter as the shortage persists.
The rise in energy costs driven by the conflict in the Middle East has sparked worries of cooling demand and supply disruptions that could slow growth momentum for chip makers.
But one analyst said the key issue would be how Samsung structures long-term contracts to sustain its semiconductor earnings.
Shares in the firm were up around 1% by early afternoon in Asia.
