Seoul:Samsung Electronics has projected a record third-quarter operating profit of 107.4 trillion won, equivalent to $80.2 billion, driven by robust demand in the artificial intelligence sector, which has bolstered its memory chip business.

According to Anadolu Agency, the South Korean tech giant anticipates that its operating profit for July to September will see a substantial increase of 782.5% compared to approximately $9.1 billion recorded in the same period last year.

The company expects its revenue to reach around $145.6 billion, marking a significant rise of 126.6% from $64.3 billion in the same quarter the previous year. This forecast surpasses Samsung's earlier quarterly records from April to June, where revenue was approximately $128.1 billion and operating profit was $66.8 billion.

Compared to the second quarter, Samsung's operating profit is expected to grow by 20%, with revenue anticipated to increase by 13.7%. The company had previously credited its second-quarter performance to strong AI demand, a strategic focus on server products, and rising chip prices.

In its earnings release in July, Samsung highlighted that the ongoing investment in AI infrastructure and the increasing adoption of AI agents were likely to drive demand for server memory, enterprise storage, and high-bandwidth memory during the latter half of the year. The company also noted that supply constraints might continue despite efforts to boost production.

The guidance released on Thursday did not specify results by business division. Samsung's third-quarter earnings call is scheduled for October 29.