Samsung Electronics , the world's top memory chip maker, is expected to forecast on Wednesday its profit growth continued to slow in the fourth quarter as it struggled to keep up with Nvidia's strong demand for AI chips.

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South Korea's Samsung Electronics said on Wednesday it expected fourth-quarter profits to be sharply down compared with the previous quarter, falling short of expectations as the company struggled to meet robust demand for chips used in artificial intelligence servers.

Samsung Electronics (OTCPK:SSNLF) released an operating profit estimate of about 6.5T won (around $4.47B) for the fourth quarter of 2024, which was seen below analysts' estimates. Shares of the company rose about 3% on the Korea Exchange on Wednesday.

Samsung Electronics released on Wednesday a fourth-quarter operating profit estimate that missed analyst estimates by a large margin, as it lagged behind rival SK Hynix in supplying high-end chips to Nvidia.

Samsung Electronics reported an operating profit of approximately 6.5 trillion won ($4.4 billion) for the fourth quarter of 2024, significantly below analysts’ earlier projections of $5.8 billion. This marks a steep decline from the $8.

Samsung Electronics said today that it’s likely to miss expectations on fourth-quarter profit by a wide margin, as analysts blamed the miss on the poor performance of its high-end memory chips for artificial intelligence accelerators.