Samsung Beats High Estimates After AI Chip Sales Defy War Fears

Samsung Electronics Co. earned a far stronger-than-expected eight-fold leap in quarterly profit, underscoring robust demand for AI memory chips in the face of markets roiled by war in the Middle East.

Customers led by cloud service providers are ramping up orders for high-bandwidth memory and other chips used in data centers to feed artificial intelligence services, lifting both volumes and margins at the chips-to-smartphones conglomerate.