Samsung reported 107.44 trillion won in operating profit — CNBC

South Korea's Samsung Electronics posted 107.44 trillion won in operating profit in the third quarter. The figure nearly matched analysts' forecast of 107.66 trillion won, CNBC reports.

Financial results

The company's revenue amounted to 195.25 trillion won, compared with a forecast of 195.79 trillion won. Compared with the same period last year, Samsung's revenue rose by 126.88%, and by 13.85% from the previous quarter.

Operating profit, according to CNBC, increased by 783.11% year on year. The outlet attributes the results to continued growth in demand for advanced memory chips used in artificial intelligence systems.

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AI investments and partnership

During the third quarter, Samsung Electronics and five of its affiliated entities announced combined investments of $1 billion in KKR-backed Helix Digital Infrastructure. Samsung Electronics itself is to invest $500 million, while its affiliated companies will provide the remainder.

Samsung also announced a partnership with French AI startup Mistral AI. The startup's technologies are planned to be used in Samsung's semiconductor operations, including chip design and manufacturing. The company also led Mistral AI's Series D funding round.