Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business.
Samsung’s shares jumped as much as 6.8% to their highest since September last year after news of the deal.
Musk said Samsung’s new chip factory in Taylor, Texas, will make Tesla’s next-generation AI6 chip, potentially re-energizing the project that has faced long delays amid Samsung’s difficulties in retaining and attracting major clients.
“Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house,” Musk said in a post on X on Monday.
Click this link for the original source of this article.
Author: Faith Novak
This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
