Samsung makes massive Tesla deal
Digest more
StockStory.org on MSN1d
Tesla (TSLA) Stock Is Up, What You Need To Know
Shares 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 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.
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.