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About 5.25 million shares in Samsung Electronics are being offered in a block deal worth up to $330 million, according to a term sheet seen by Reuters on Monday.
The surge in demand for memory stocks underscores the sector's growth. The burgeoning need for high-bandwidth memory (HBM), essential for Nvidia's (NASDAQ: NVDA ) AI processors, is driving the interest.
The upgrades are earmarked for the company's base in the city of Taylor, Texas.
Samsung Electronics is poised to significantly increase its semiconductor investment in Texas, with plans to more than double its spending to approximately $44 billion, as reported by the Wall Street Journal on Friday.
A robust profit forecast from Samsung Electronics points to strong demand for artificial-intelligence chips.
Samsung Electronics said it expects to post a 10-fold increase in its first quarter profits, compared to a year ago, in what would be a significant turnaround for the Korean firm following a major rebound in the price of microchips driven by the artificial intelligence (AI) boom.
Samsung Electronics (KRX:005930) provided head-turning revenue and profit estimates in a bare-bones first-quarter trading update today. The Korean technology giant predicted quarterly revenues of 71 trillion Korean won and an operating profit of 6.6 trillion won.
Mehdi Hosseini, senior tech hardware analyst of Susquehanna International Group, says Samsung, which "used to be the market leader in innovating for memory, for smartphones, for display," is now only "benefiting from the cycle recovery."
Samsung's operating profit in the January-March quarter likely rose to 6.6 trillion Korean won ($4.89 billion).
Samsung Electronics estimated on Friday a more than 10-fold rise in its first-quarter operating profit, as rebounding semiconductor prices lifted earnings from a low base a year ago when there was a severe downturn in chip demand.