Samsung’s weaker than expected earnings underline investor concern that the company is falling further behind rival SK Hynix in the high-bandwidth memory chips used in AI hardware.

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.

The world’s largest maker of memory chips and smartphones said sluggish demand for conventional chips used in personal computers and mobile phones weighed on its memory business for the quarter.