Samsung lost $122 billion in market capitalization due to difficulties with the production of memory chips for artificial intelligence (AI), Bloomberg writes.
Author:
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According to the agency, the technology giant is losing to the small company SK Hynix in the production of AI chips. This caused Samsung shares to fall 32% from their July peak, and foreign investors have sold the company’s shares for about $10.7 billion since the summer.
Over the summer, Samsung planned to become a supplier of HBM (high-bandwidth memory) to Nvidia, but later reported that there were delays in supplying the latest HBM3E.
Samsung Electronics is expected to release its quarterly report on October 31. Some investors expect changes in the leadership of the Korean technology giant, Bloomberg writes.
In early October, the company warned that its third-quarter earnings would fall short of market expectations. Samsung attributed the poor results to a lag behind its competitors in supplying high-performance chips to Nvidia in the fast-growing artificial intelligence market.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
