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Mexican President Simbaum: I have instructed relevant departments to expedite preparations to resume livestock exports to the United States.On July 25th, Nvidia (NVDA.O) announced a $1 billion investment in South Korean internet and cloud service provider Naver for its ongoing AI data center project in South Korea. Nvidia stated that this funding will more than triple the size of Navers data center. The project, jointly developed by Naver and US private equity firm Brookfield Group, will be entirely powered by Nvidias AI computing hardware. In addition, Nvidia has partnered with SK Group to build an AI data center cluster in South Korea with a total computing power exceeding 2 gigawatts, a power load roughly equivalent to that of 1.5 million households. Nvidia revealed that its first AI computing power plant, built by SK Telecom, will be operational next year. Nvidia CEO Jensen Huang stated, "South Korea is entering a golden age of development. Its semiconductor industry and industrial sector are booming, giving it the complete capability to build AI infrastructure globally."1. British media: Russia is highly likely to launch a new round of large-scale airstrikes as early as tonight or in the next few days. 2. Ukrainian Prosecutor General: Russian airstrikes have killed 10 people in the Kyiv region. 3. Ukrainian President Zelensky told Trump ally Laura Lumer that he may visit Washington next week and meet with Trump again. 4. Ukrainian President Zelensky: Intelligence indicates that Russia plans to increase the number of troops stationed in Ukraine this fall. 5. EU High Representative for Foreign Affairs and Security Policy Kalas: EU sanctions aim to cut off Russias financial support for the war in Ukraine, making it more difficult for Russia to raise funds overseas. 6. Russia says it will wait for Trump to propose a new plan to end the war in Ukraine. 7. Ukrainian Agriculture Minister Vysotsky: The military is working to ensure the safe passage of existing food corridors. The government is willing to help with alternative export routes via rail and the Danube River. 8. White House official: US President Trump and Ukrainian President Zelensky will meet in Washington on July 28.U.S. Department of Agriculture: Starting August 24, the U.S. Department of Agriculture will open the Douglas Port of Entry in Arizona for cattle trade.On July 25th, the Peoples Bank of China drafted the "Administrative Measures for Category II Stored Value Account Operations (Draft for Public Comment)" and solicited public opinions. Category II stored value account operations refer to multi-purpose prepaid card business. Multi-purpose prepaid cards are issued by specialized card-issuing institutions (non-bank payment institutions) and are characterized by their cross-regional and cross-industry usability. In specific consumption scenarios such as supermarket retail, catering services, industrial parks, and public transportation, multi-purpose prepaid cards serve as a beneficial supplement to general non-cash payment methods such as bank cards and mobile payments. The revised "Measures" stipulate provisions regarding the transparency of rules, fund security, information protection, and liability constraints for multi-purpose prepaid cards. The deadline for feedback is August 8, 2026.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.


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