As a severe chip shortage drives memory chip prices sharply higher, Samsung Electronics’ fourth-quarter operating profit is expected to surge 160% year-over-year, as customers rush to purchase chips to meet surging demand for artificial intelligence. According to LSEG SmartEstimate’s survey of 31 analysts, Samsung is expected to post an operating profit of 16.9 trillion won (approximately $11.7 billion) for the October-December period, up from 6.49 trillion won in the same period last year. This would mark the highest quarterly profit since the third quarter of 2018, when it hit a record high of 17.6 trillion won. In recent weeks, some analysts have raised their fourth-quarter operating profit forecasts for Samsung to over 20 trillion won, as prices for traditional chips have risen more than expected. Samsung Electronics will release preliminary revenue and operating profit figures on Thursday.