Samsung to Extend Output Cuts While Awaiting AI-Powered Recovery
Samsung Electronics Co. pledged to keep cutting memory chip production while forecasting a rebound in sales in the second half of the year, as AI demand helps global tech spending climb out of a post-Covid funk.Samsung, which on Thursday reported better-than-expected net income, said artificial intelligence will provide a boost to memory demand before the year's end. Korea's largest company plans to double its capacity to make high-bandwidth memory (HBM), a next-generation technique used to help train AI, by 2024. That…