Samsung Electronics Co.’s shares touched a fresh record after it reported its biggest quarterly profit in more than three years, reflecting surging AI-related demand for memory chips.

South Korea’s largest company said it earned an operating profit of around 12.1 trillion won ($8.5 billion) in the September quarter, beating analysts’ projection for 9.70 trillion won, according to a preliminary earnings report. Revenue rose around 9% to 86 trillion won.

Its shares extended gains, climbing as much as 3.1% Tuesday morning in Seoul. The company will provide a full financial statement with net income and divisional breakdowns on Oct. 30.

The results may bolster confidence among investors betting on the durability of demand for AI servers and memory chips, as well as Samsung’s chances at rega

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