Samsung Electronics has reported a substantial increase in its operating profit for the first quarter of 2024, driven by soaring demand for its servers, memory chips, and storage solutions used in artificial intelligence (AI) applications. The company’s total revenue rose by 12.8% to KRW 71.2 trillion ($52.2 billion), while net profit surged by 330% to KRW 6.75 trillion ($4.88 billion) compared to the same period last year.