Samsung said on Tuesday that it expects the demand for chips and tech devices to remain strong throughout the year, driven by AI.

Samsung is the latest company to profit from AI demand, as its profits have increased more than fourfold compared to a year earlier.

Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for compute

Samsung Electronics forecast demand for artificial intelligence would hold strong and tighten supply of some high-end chips, joining rivals in benefiting from a solid rebound in the battered global memory chip market.

Samsung Electronics Co.’s earnings surged after the semiconductor business returned to profitabilty for the first time since 2022, boosted by broad spending on artificial intelligence development.

Samsung Electronics said on Tuesday it expected demand for artificial intelligence to hold strong in the second half, driving sales of memory chips and tech devices, as it reported a more than 10-fold rise in first-quarter operating profit.