Samsung Electronics announced on Thursday the acquisition of a British startup specializing in advanced AI technology, as the South Korean tech giant experiences a surge in demand for its high-end chips used in artificial intelligence hardware.
Oxford Semantic Technologies, according to Samsung's statement, focuses on knowledge graph technology, a sophisticated method of storing complex information in a web-like structure. The company anticipates integrating this technology across various products, including mobile devices, TVs, and home appliances.
The financial details of the transaction were not disclosed. Samsung's move to acquire Oxford Semantic is part of its strategy to enhance its AI capabilities, which range from text generation based on brief instructions to simultaneous translation of phone conversations.
As the world's largest producer of memory chips, including those used in premium AI hardware, and one of the leading smartphone manufacturers, Samsung continues to expand its AI presence. Recent showcases include new AI features in consumer electronics such as wireless headphones, smartwatches, and health tracking devices, as well as the latest generation of AI-enhanced folding phones.
Samsung's recent financial outlook predicts a more than 15-fold increase in its second-quarter operating profits year-on-year.
