Samsung’s Seoul-traded shares rose 6.8%, to their highest since September, while its suppliers like Soulbrain Co. jumped as much as 16%. A Samsung spokesperson declined to comment, citing confidentiality terms in its contract.
Samsung Electronics Co. will produce AI semiconductors for Tesla Inc. in a new US$16.5 billion ($21.14 billion) pact that marks a win for its underperforming foundry division.
South Korea’s largest company announced on Monday that it secured the 22.8 trillion won ($21.17 billion) chipmaking agreement, which will run through the end of 2033. The plan is for an upcoming plant in Taylor, Texas, to produce Tesla’s next-generation AI6 chip, Tesla chief Elon Musk said on X, confirming a Bloomberg News report.
