Generative AI has created a once-in-a-generation surge in memory sales and semiconductor production – which Samsung Electronics has managed to flub,

After missing the AI boom – badly – Samsung shuffles the C-Suite

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2024-11-28 22:30:04

Generative AI has created a once-in-a-generation surge in memory sales and semiconductor production – which Samsung Electronics has managed to flub, leading to a Wednesday announcement that it's named new senior leadership for its memory and foundry businesses.

Interest in AI has seen the likes of Nvidia post 94 percent year-on-year revenue growth and Dell report 58 percent improvement in server and networking revenue. Samsung, by contrast, recently apologized to investors after profits plunged – thanks in part to what EVP for Memory, Jaejune Kim, described as "commercialization delays" afflicting the fast HBM memory needed to make AI sing.

Kim appears to have a new boss, as Samsung Electronics announced the appointment of Young Hyun Jun – previously vice chair and head of the Device Solutions Division – as CEO and head of both the Memory Business and the Samsung Advanced Institute of Technology.

Jinman Han was promoted to president and will become the head of Foundry Business. His CV seems made for the job: he's worked on design teams for DRAM and Flash memory, led SSD development, and previously served as EVP and president of Device Solutions for America.