Samsung Electronics' profit in the first quarter surged eight times, reaching a record high.

Samsung Electronics said on Thursday that its first-quarter operating profit soared eightfold, reaching a historical high, thanks to the supply shortage caused by the artificial intelligence boom boosting chip prices. The world's largest memory chip manufacturer achieved an operating profit of 5.72 trillion Korean won from January to March, in line with its expected 5.72 trillion Korean won, a significant increase from 6.69 trillion Korean won in the same period last year. The Korean company's quarterly revenue increased by 69% year-on-year, reaching 133.9 trillion won. Samsung's chip division recorded an operating profit of 5.37 trillion won in the first quarter, with the company expecting strong memory demand in the second quarter.