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What’s behind Samsung’s 1800% profit surge? All we know as AI stocks continue to plummet

News Snapshot:

Samsung Electronics has reported one of its biggest profit jumps ever. The South Korean tech giant said its operating profit for the April-June quarter is expected to reach 89.4 trillion won ($58.4 billion), almost 19 times higher than the same period last year, according to Samsung's earnings guidance.Samsung's 1800% profit surge was driven by AI chip demand (REUTERS/Kim Hong-Ji/File Photo) (REUTERS)The company earned more profit in just one quarter than it made over the last three years combined, according to Reuters. This shows how strong the current AI-driven chip boom has become. Samsung's revenue also jumped sharply. The company expects…

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