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Samsung predicts that artificial intelligence will fuel technology demand in the second half of 2024 following a successful first quarter.

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Samsung Electronics is gearing up to meet the strong demand for artificial intelligence by tightening the supply of high-end chips, signaling a positive outlook for the global memory chip market. The world’s largest memory chip maker reported a more than 10-fold rise in first-quarter operating profit, boosting investor confidence and sending its shares 1.8 percent higher.

Despite a slight dip in Samsung’s shares this year, the company is focused on increasing the supply of top-end chips like high bandwidth memory (HBM) to keep up with competitors like SK Hynix. Samsung’s vice president, Jaejune Kim, announced plans to triple the supply of HBM-related chips by 2024, with mass production already underway for the latest 8-layer HBM3E chips for generative AI chipsets.

Analysts have noted Samsung’s aggressive targets, especially with the upcoming production of the 12-layer HBM3E chips. The company aims to capture a significant portion of the HBM market by the end of the year, with expectations that the latest products will cater to AI leaders like Nvidia and AMD.

In addition to high-end memory chips, Samsung is also ramping up production of high-end solid-state drive (SSD) products to meet the growing demand for AI servers. The company anticipates tighter supply conditions towards the end of the year, as capacity is focused on HBM production.

With a strong performance in the first quarter, Samsung’s memory chip division saw a significant turnaround, swinging to a profit of KRW 1.91 trillion. The company’s mobile devices business also maintained profitability, driven by AI functions in its flagship Galaxy S24 smartphones. As Samsung continues to innovate and meet the demand for AI technology, it remains a key player in the competitive semiconductor market.

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