BUSINESS

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South Korean tech giant Samsung Electronics reported a 32 percent year-on-year increase in third-quarter profits on Thursday, primarily driven by AI-fueled market demand for memory chips. The artificial intelligence industry has significantly boosted both Samsung and SK Hynix, two of the world's leading memory chip manufacturers, as their products have become essential for AI infrastructure. This latest earnings report marks a sharp turnaround for Samsung, whose profits had plunged by over 50 percent in the second quarter due to US restrictions on AI chip exports to China.

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Warren Buffett's Berkshire Hathaway closed the third quarter on a high note, reporting a powerful rebound in earnings and a record cash reserve, even as the 95-year-old investor prepares to step down as chief executive.

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Shell has announced another $3.5 billion share repurchase plan after posting stronger-than-expected third-quarter results, underscoring the oil giant's ability to deliver consistent shareholder returns despite softer energy prices.

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Amazon's share price surged more than ten percent on Thursday after the online retail and cloud computing giant reported earnings that surpassed market expectations. The company announced a 13 percent increase in quarterly sales, reaching $180.2 billion across its operations. Net income climbed to $21.2 billion, up from $15.3 billion in the prior year. Further boosting investor confidence, Amazon forecast fourth-quarter sales between $206 billion and $213 billion, indicating growth of 10-13 percent.

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Uber announced Wednesday its plans to launch its own robotaxi service in San Francisco late next year, directly challenging Google-owned Waymo on the rideshare giant's home streets. This development follows a recent alliance between Uber and Nvidia to deploy 100,000 robotaxis starting in 2027. Uber confirmed in an X post that on-road development of more than 100 self-driving Lucid vehicles for the robotaxi program is currently in progress, stating, "The future is on its way.”