Samsung Electronics announced on Thursday that its first-quarter operating profit surged eightfold to a record high, driven by a supply shortage and rising chip prices fueled by the artificial intelligence boom. The world's largest memory chip maker posted an operating profit of 57.2 trillion won ($38.43 billion) for the January-March period, matching its forecast and marking a sharp increase from 6.69 trillion won a year earlier. The South Korean company's quarterly revenue rose 69% year-on-year to 133.9 trillion won. Samsung's chip division recorded an operating profit of 53.7 trillion won in the first quarter, and the company expects strong memory demand to continue into the second quarter.
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