Samsung shares jump on news of $16.5 bln Tesla chips deal

Story: Samsung Electronics skipped shares on Monday, July 28 on a great deal of agreement to make chips for Tesla.

Elon Musk said he had signed a $ 16.5 billion contract for the home company’s semiconductor supply.

This should be a great support for Samsung’s loss of loss.

Following the news, the shares in the firm increase 6% in the afternoon.

Musk said that a new Samsung facility in the United States will be dedicated to the production of chips.

This can refer to a planned facility in Taylor, Taylor, a planned facility that faces delays between the South Korean firm’s struggles to win and holding large customers.

Musk said he was suitable for the plant near his house and he would personally examine to help accelerate progress.

For Samsung, who falls behind the competitors in the race to supply AI chips, everything is too time.

Local rival Sk Hynix and Taiwan giant TSMC are both leading.

This greatly focused on Samsung’s profit and stock price.

Analysts say that the agreement may be useful for South Korea, as they are struggling to make a trade agreement with the US.

The country is looking for chips and partnerships on shipbuilding as part of negotiations to prevent potential 25% tariff.