Elon Musk's Tesla signs $16.5 billion chip supply deal with Samsung; South Korean giant's shares jump over 6%
The chip supply partnership will focus on Tesla's need for next-generation AI chipsets and help the South Korean electronics maker maximise its operational efficiency.
'Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency,' said Tesla's founder and chief executive officer (CEO), Elon Musk, in his post on X. 'Samsung's giant new Texas fab will be dedicated to making Tesla's next-generation AI6 chip. The strategic importance of this is hard to overstate,' he said.
Musk also expects that the output of the $16.5 billion chip supply deal will be several times higher than anticipated, as a result of this partnership.
'The $16.5B number is just the bare minimum. Actual output is likely to be several times higher,' said the Tesla founder in a separate post on X.
(This is a developing story. Please check back for updates.)
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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