South Korea's Samsung Electronics said on Wednesday it expected fourth-quarter profits to be sharply down compared with the previous quarter, falling short of expectations as the company struggled to meet robust demand for chips used in artificial intelligence servers.

Samsung Electronics released on Wednesday a fourth-quarter operating profit estimate that missed analyst estimates by a large margin, as it lagged behind rival SK Hynix in supplying high-end chips to Nvidia.

Samsung Electronics Co.’s shares rose after Nvidia Corp. founder Jensen Huang expressed confidence in the Korean company’s ability to resolve technical issues dogging its highest-end memory, offsetting disappointing quarterly results.