Samsung profit surges on AI memory demand

Samsung Electronics prelim Q2 operating profit surged 19x YoY to about $58.4B.
That came in above consensus of roughly $55.3B.
The driver is clear: AI memory demand.
However, revenue came in slightly light at about $111.8B versus $113.1B expected.
Even with that miss, revenue was still up 129% YoY.
The market takeaway is simple.
AI memory remains one of the strongest profit engines in semiconductors.