Tesla signs $16.5bn chip deal with Samsung
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Shares in Samsung Electronics eked out small gains on Tuesday, following a sharp rally the previous day after the South Korean technology company clinched a $16.5 billion deal to supply artificial intelligence chips to Tesla .
Tesla CEO Elon Musk announced that Samsung will supply the Austin automaker's next-generation chips in a $16.5 billion deal at Samsung's Texas facility . "Samsung's giant new Texas fab will be dedicated to making Tesla's next-generation AI6 chip," Musk said in a post on X. "The strategic importance of this is hard to overstate."