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Samsung shares hit over 3-year high after better-than-expected guidance on strong AI demand

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Samsung shares hit over 3-year high after better-than-expected guidance on strong AI demand

The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros/NurPhoto via Getty Images)

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Shares of Samsung Electronics jumped to their highest level since January 2021 after the South Korean tech giant said it expects better-than-expected profit for the second-quarter, thanks to explosive demand for artificial intelligence.

The stock climbed as much as 2.24% on Friday morning, trading at a high of 86,500 Korean won ($62.73), according to LSEG data. Samsung shares closed at 84,600 won on Thursday.

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