Samsung makes massive Tesla deal
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Elon Musk announces major deal with Samsung for Tesla's next-gen AI6 chip, signaling renewed focus on his companies and ambitious targets.
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Tesla (TSLA) Stock Is Up, What You Need To KnowShares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 4% in the afternoon session after the company announced a significant, multi-billion dollar contract with Samsung Electronics to produce its next-generation AI chips.
Tesla is set to get its next generation of semiconductor chips from South Korean electronics giant Samsung in a new deal worth more than $16 billion over the next eight years.
William Blair analyst Jed Dorsheimer was all praise for Tesla Inc (NASDAQ: TSLA) $16.5 billion chip supply agreement with Samsung Electronics in an interview with CNBC today, but he won’t recommend buying the EV stock still.
Samsung has secured a $16.5 billion chipmaking deal with a mystery global client, boosting its foundry ambitions amid stiff AI competition and looming U.S. tariff risks.