Samsung Electronics
AMD CEO Lisa Su discusses AI ties with South Korean government, firms
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Lisa Su, CEO of U.S. chipmaker AMD, met South Korean government officials, Samsung Electronics and AI startup Upstage on March 19 to discuss AI partnerships. She had met Samsung Chairman Lee Jae-yong the previous day. The meetings focused on strengthening the AI ecosystem and developing sovereign AI models.
Seoul stocks opened sharply higher on Wednesday amid growing optimism over Washington's moves to end the month-long war in Iran. The benchmark KOSPI rose 170.22 points, or 3.06 percent, to 5,724.14 in the first 15 minutes of trading.
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Samsung Electronics' union has approved a general strike with 93.1 percent support, demanding bonus reforms and a 7 percent pay raise. This would be the company's second strike since 1969, coinciding with a prosecution probe into insider trading that could pressure shares.
Samsung Electronics estimated its fourth-quarter operating profit at 20 trillion won, a 208 percent surge from a year earlier, driven by soaring memory chip prices amid high AI demand. Sales are projected at 93 trillion won, marking a quarterly record. The figures exceed analyst expectations and highlight a chip market supercycle.
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Korean chipmakers Samsung Electronics and SK hynix are ramping up memory production to meet surging demand from artificial intelligence (AI) servers. Industry analysts said on Sunday that production capacity is increasingly seen as a key determinant of competitiveness in the global semiconductor industry.