S&P lifts Samsung outlook to positive on AI memory boom

S&P upgraded Samsung's outlook to positive, citing a structural AI-driven memory chip super-cycle with supply shortages expected to persist through 2027. The agency forecasts Samsung's revenue will reach $461bn in 2026 and projects EBITDA to surge from $67bn in 2025 to $290bn in 2026, as hyperscaler capex quadruples to $1 trillion by 2028 while meaningful new memory supply remains unavailable until after 2028.

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