
AI-generated summary
Samsung Electronics is the world's largest memory chipmaker and has seen increased demand for its products due to the growth of artificial intelligence infrastructure. In Q2, the company reported record revenue and operating profit.
Samsung Electronics on Thursday reported third-quarter preliminary operating profit of 107.40 trillion won ($80.2 billion), surging past 100 trillion won for the first time in the company's history as booming demand for artificial intelligence continues to fuel its chips business.
Samsung, the world's largest memory chipmaker, has benefited from surging demand for memory used in AI infrastructure. In the second quarter, the company posted record revenue of 171.5 trillion won and record operating profit of 89.5 trillion won, driven by its memory business.
The company has also stepped up investments and partnerships tied to AI. In September, Samsung announced a strategic partnership with French artificial intelligence startup Mistral AI, with plans to deploy the startup's AI models across its semiconductor operations.
Samsung is expected to release its full third-quarter earnings, including a breakdown by business division, later this month.
AI outlook — possibilities, not facts
Samsung will release its full third-quarter earnings later this month
Very likely · Within weeks

The U.S. Treasury announced that it had imposed its first civil fine of $200,000 on Amidi, a company that violated its obligations to report investments in China's physical AI sector. This is the first case under the Outward Investment Security Program (OISP) implemented in January last year, and Amidi's Chinese subsidiary was found to have invested approximately 120 million won without reporting.

According to a Gallup survey, 71% of Americans oppose the construction of AI data centers in their local areas, which is higher than the 53% who oppose nuclear power plants. People are mainly worried about data centers consuming electricity and water, increasing energy costs, and affecting the quality of life and environment. Some states have adopted suspension or restriction measures.

Wall Street stocks closed lower on Wednesday, with the Dow Jones Index falling 0.66%, the Nasdaq falling 0.22%, the S&P 500 falling 0.22%, and the Philadelphia Semiconductor Index falling 1.15%. Asian stock markets were dragged down. Taiwan stocks opened lower and fell by 23.31 points. Japanese stocks once plunged more than 800 points and fell below 70,000 points during the session. Korean stocks turned from red to black.

TikTok owner ByteDance is identified as China's top Going Global champion in a new SCMP Plus databank tracking mainland companies' overseas expansion, with private technology and consumer firms outpacing state-owned enterprises in global growth through brand development and tech innovation.

China and the European Union began a new round of trade talks in Beijing on Thursday, with both sides expressing skepticism about a major breakthrough. Chinese firms in Europe hoped for limited progress to stabilize relations, while European analysts remained cautious. A Chinese source said EU Trade Commissioner Maros Sefcovic would not return empty-handed.

Shuanghong (3324), a major cooling manufacturer, announced yesterday that its revenue in September was 2.88 billion yuan, a monthly decrease of 8.18% but an annual increase of 23.2%. The cumulative revenue in the first three quarters was 27 billion yuan, an annual increase of 72.4%, a new high for the same period. The stock price fell by more than 8% in early trading today, and then rose and turned red due to low buying orders. It rose 0.66% to 1,535 yuan at nearly 10:10. Chairman Lin Yushen said that thanks to the demand for NVIDIA water-cooling boards and the growth of ASICs, the annual operation is estimated to increase by 70%, and water-cooling products account for about 60%.