Samsung anticipates profits to increase by almost 1,400%.
In comparison to the same period previous year, Samsung Electronics anticipates a 15-fold increase in profits for the three months ending in June 2024.
A surge in artificial intelligence (AI) has increased the cost of sophisticated chips, raising the company's second-quarter projection.
The world's biggest manufacturer of memory chips, smartphones, and televisions is this South Korean electronics behemoth.
Samsung shares rose more than 2% in early Seoul trading after the announcement.
The company also revealed that its profits for the first three months of this year increased by a factor of more than ten.
It stated that it expects its profit to increase from 670 billion won last year to 10.4 trillion won ($7.54 billion; £5.9 billion) this quarter.
That exceeds analysts' estimates by 8.8 trillion won, as per LSEG SmartEstimate.
The demand for AI chips in data centers and smartphones is currently surging, according to Marc Einstein, chief analyst of the Tokyo-based research and advising company ITR Corporation.
Optimism about AI is one reason for the larger market boom over the previous year, which propelled the S&P 500 and Nasdaq in the United States to fresh highs on Wednesday.
Last month, Nvidia briefly held the title of the world's most valuable business as its market value surpassed $3 trillion.
The AI boom that substantially benefitted Nvidia is now benefiting Samsung's earnings, as well as those of the entire sector," Mr Einstein continued.
Samsung Electronics is the flagship division of the South Korean corporation Samsung Group.
The tech company may go on strike for three days next week, beginning on Monday. A workers' union is calling for a more open system of bonuses and time off.
