Samsung Electronics announced it expects operating profit of 107.4tn won for the quarter ending September, a nine-fold increase from the same period last year. The company attributes the jump to heightened demand for memory chips used in artificial intelligence data centres. As one of the world's largest memory chip producers — alongside SK Hynix and Micron — Samsung stands to benefit from the global AI expansion. The firm also anticipates a sales boost from its newly launched folding smartphones, unveiled in August. Earnings details will be published in late October. South Korean firms typically share preliminary profit forecasts to guide investors ahead of full reports. Worldwide demand for AI-capable semiconductors has driven a shortage, enabling manufacturers to raise prices and increase revenue. Samsung's stock market valuation briefly exceeded $1tn earlier this year. Rival firms in Japan, China and Taiwan are similarly investing heavily in chip production to meet rising AI-related needs. South Korea recently outlined plans for at least $880bn in semiconductor-focused projects led by Samsung and SK Hynix, aimed at expanding manufacturing capacity over the coming years.