Tesla CEO Elon Musk announced on July 28 that the company has signed a $16.5 billion contract with South Korea’s Samsung Electronics for the supply of AI chips, Reuters reports.
The deal could significantly boost Samsung’s contract chip manufacturing business, which has been operating at a loss.
The news sent Samsung’s stock up nearly 7% on the Seoul exchange, while Tesla’s shares rose 1.7% in U.S. premarket trading.
“Samsung’s new mega fab in Texas will specialize in producing next-gen AI6 chips for Tesla. The strategic importance of this cannot be overstated,” Musk wrote Monday on X.
The factory is likely the one located in Taylor, Texas, a project that previously faced delays due to Samsung’s difficulties attracting major clients.
“Samsung has agreed to let Tesla help maximize manufacturing efficiency. This is critical, and I will personally oversee the process to accelerate progress. The fab is also conveniently located near my home,” Musk added.
Currently, Samsung manufactures A14 chips for Tesla’s Full Self-Driving (FSD) system. The next generation, AI5, will be produced by Taiwan’s TSMC, first in Taiwan and later in Arizona.
No specific launch timeline for AI6 chips was given by Musk. The A15 chips are expected to go into production by late 2026, meaning AI6 will likely follow afterward.
Samsung confirmed the $16.5 billion deal, though it did not name Tesla as the client, citing confidentiality. The contract will run through 2033.
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The world’s largest producer of alcohol, the British Diageo has initiated arbitration proceedings with the French luxury goods manufacturer LVMH Moet Hennessy – Louis Vuitton SA due to non-payment of dividends in the amount of 181 million euros in 2019. Diageo owns 34% in the joint venture with LVMH for the production of alcoholic beverages […]
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On Thursday, Advanced Micro Devices Inc. has introduced the long-awaited line of four next-generation Ryzen 5000 series CPUs for the desktop PCs, based on the new Zen 3 architecture. Ryzen 5000 series products are based on the 7-nm manufacturing process of the Taiwan Semiconductor and designed for the computer gamers and the content creators. AMD […]
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In December, Volkswagen expects more changes. December 7, 2015 the company went to Qatar, where they had meeting with one of its main investors, Qatar Investment Authority. Volkswagen representative Eric Felber pointed out that the visit is devoted to restructuring and improving the management and the most important shareholders should express their opinion on this […]
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