Samsung's operating profit for this single year will surpass the cumulative total of its semiconductor business over the past 40 years. On July 3, the head of Samsung's DS division said this at an internal meeting. The market's expectation for Samsung's full-year 2026 operating profit is approximately 300 trillion KRW (about $200 billion), among which the consensus expectation for the second quarter is 84.6 trillion KRW—if realized, it will surpass Nvidia's first-quarter record, setting a new single-quarter profit high for global tech companies.

For the crypto market, these numbers represent more structural pressure: the AI semiconductor supply chain is absorbing global capital at a superlinear rate. Samsung and SK Hynix combined have annual capital expenditures exceeding 40 trillion KRW, and SK Hynix's upcoming ADR listing on Nasdaq means that traditional financial markets' demand for AI-related assets continues to swell.
When a single company's annual profit can exceed an industry's 40-year accumulation, the balance of capital naturally tilts. What the crypto market faces is not just ETF outflows or regulatory uncertainty, but the siphoning effect of AI capital expenditures on liquidity—$1.1 trillion in AI infrastructure investment is reshaping the capital allocation landscape for global risk assets.
On the downside: the core driver of Samsung's profit surge is HBM and AI server chips, but recent stock prices in the memory sector have pulled back from highs, and the market is beginning to question the sustainability of AI capital spending. If the semiconductor cycle turns, the siphoned liquidity could flow back, but until then, the crypto market must face a stronger competitor for capital.
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