Samsung is set to award its employees with a bonus averaging £250,000 ($400,000) each due to the success in the field of artificial intelligence. This profit-sharing initiative, involving 78,000 chip workers, will distribute 10.5% of semiconductor operating profits, primarily in the form of company stocks.
The agreement was reached after a five-month dispute between the company and its labor union, with a significant majority of workers voting in favor of the deal to avoid potential disruptions in global chip supplies. The bonus amount will vary based on individual roles, with estimates suggesting an average payout of £250,000 to each worker, though other projections indicate figures of up to £300,000 per employee.
The bonuses will not extend to subcontractors or staff in the consumer electronics division responsible for manufacturing Samsung smartphones and laptops. Samsung’s market valuation recently surpassed $1 trillion (£740 billion) as investors continue to show confidence in AI-related stocks.
In its latest financial report, Samsung revealed a substantial increase in operating profit to 57.2 trillion won (£28.4 billion) and record revenue of 133.9 trillion won (£66.5 billion). The company’s success mirrors the market performance of other tech giants like SK Hynix and Micron, whose valuations also exceeded $1 trillion this week.
The trend of billion-dollar valuations extends beyond Samsung, with companies like Nvidia, Amazon, Apple, Microsoft, Google’s Alphabet, and Meta also joining the trillion-dollar club. Recent analysis highlights the lucrative nature of AI and technology firms, indicating potential earnings of up to £194,000 per UK internet user over their lifetime through data utilization.
The study underscores the vast collection and monetization of personal data by major corporations to fuel the digital landscape. Bill Laboon from Web3 Foundation emphasized the importance of awareness regarding data privacy and usage, urging individuals to understand the implications of their digital footprint in today’s data-driven environment.