SEOUL — South Korea's tech giant Samsung Electronics set records in the third-quarter operating profit and revenue, powered by an explosive performance in its semiconductor business, the company said on Thursday.

Its operating profit skyrocketed 783.1 percent from a year earlier to hit an all-time high of 107.4 trillion won ($80.4 billion) in the July-September quarter, beating market expectations of about 105.7 trillion won.

Revenue soared 126.9 percent to 195.3 trillion won, and net income spiked 514.6 percent to 75.14 trillion won.

Both the operating profit and revenue smashed previous records for the fourth consecutive quarter.

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Samsung's stellar earnings were overwhelmingly driven by its semiconductor business, which generated an operating profit of 106.5 trillion won with revenue of 147.1 trillion won in the third quarter.

It marked another record-breaking performance on surging demand for memory chips used in artificial intelligence (AI) infrastructure.

The company said it managed its product mix with a focus on AI products while scaling up sales of high-bandwidth memory 4 (HBM4), expecting industry-wide competition for AI leadership to boost AI infrastructure investments in the fourth quarter.

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Samsung forecasts that AI infrastructure capital expenditure will reach a historic level in 2027 amid an expanding AI ecosystem, predicting that AI-driven demand will far exceed the industry supply compared to 2026.