Employees at Samsung Electronics’ memory chip division are to receive bonuses averaging about £310,000 each through a landmark profit-sharing agreement, as the AI boom drives up chipmakers’ profits.

Fears of a strike at Samsung were averted on Wednesday after two unions for the world’s largest memory chipmaker said 74% of the 62,616 workers who cast their votes had backed the deal.

The agreement, mediated by South Korea’s government, means Samsung will set aside 10.5% of operating profits at its semiconductor division to pay special bonuses to its chip workers.…