Thousands of Samsung employees are set to receive a substantial bonus of approximately £300,000 ($400,000) each due to the surge in AI technology. This bonus, equivalent to 10.5% of semiconductor operating profits, will benefit 78,000 chip workers through a new profit-sharing agreement, primarily distributed in stocks.
After a five-month dispute, a pay deal was reached on Wednesday between the Korean tech giant and the labor union, with 74% of the 62,616 workers voting in favor of the agreement. The union had threatened an 18-day strike previously, which could have disrupted global chip supplies.
The bonus amount per person will vary based on their position, with an average of 513 million won (£250,000) per worker, according to Bloomberg. Yonhap News estimates suggest individual payouts could reach 600 million won (£300,000), almost four times the average salary of a Samsung employee in 2025.
The bonuses will be allocated to unionized technical staff, excluding subcontractors but not including employees in the consumer electronics division responsible for manufacturing Samsung smartphones and laptops.
Samsung’s market valuation surpassed $1 trillion (£740 billion) as investors continued to support AI-related stocks. The company’s recent financial report indicated a significant increase in operating profit to 57.2 trillion won (£28.4 billion) and record revenue of 133.9 trillion won (£66.5 billion).
Additionally, chipmakers SK Hynix and Micron also achieved market valuations exceeding $1 trillion this week. SK Hynix committed to sharing 10% of operating profits over the next decade. Noteworthy tech giants valued above $1 trillion include Nvidia, Amazon, Apple, Microsoft, Google’s parent company Alphabet, and Meta.
Recent analysis unveiled that technology and AI firms could earn up to £194,000 per UK internet user over their lifetime from utilizing data. Major companies leverage personal data for internet operations, as revealed by a report from the Web3 Foundation, analyzing various digital footprints left by individuals.
Bill Laboon, the vice president of technical operations at Web3 Foundation, emphasized the importance of understanding data usage and monetization by numerous entities. People often overlook the extent to which their data is utilized, impacting privacy concerns in various digital interactions.