Samsung reports ‘major’ progress in supply deal for AI chips [Video]

SEOUL – Samsung Electronics on Thursday reported progress on a major supply deal for artificial intelligence-focused chips, aiming to reassure investors following a slowdown in semiconductor profits during the last quarter.

The South Korean technology giant said its operating profit for the July-September period increased by more than 277% from a year earlier to 9.18 trillion won ($6.65 billion). But the figure represented a 12% decline from the second quarter, which Samsung attributed largely to one-off costs, such as provision of employee incentives in its computer chip business, and the effects of a weaker U.S. dollar.

Samsung’s semiconductor division earned 3.86 trillion won ($2.8 billion) in …