Elon Musk announces major deal with Samsung for Tesla's next-gen AI6 chip, signaling renewed focus on his companies and ambitious targets.

Samsung's Taylor, Texas plant will begin producing the A16 chip for new Tesla vehicles and robotaxis in the years ahead.

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.

The chips will be designed for AI data centers, autonomous driving and robots. Shares in the South Korean tech giant surged.

The stock of Tesla (TSLA) is up 4% on July 28 after the electric vehicle maker announced that it has entered into a $16.5 billion contract with Samsung Electronics (SSNLF) to supply it with semiconductors.

On Monday, Tesla and Samsung announced a $16.5 billion multiyear deal for the latter to provide all-important artificial intelligence chips for the former. For Samsung, it’s a chance to finally carve out some market share from rival chipmaker TSMC.

Shares of Samsung Electronics (KS:005930) fell about 1% on Tuesday, pausing after a strong rally sparked by news of a $16.5 billion chip supply deal with Tesla (NASDAQ:TSLA). The agreement positions Samsung as a

Tesla ( NASDAQ: TSLA) CEO Elon Musk on Sunday confirmed that the EV maker has signed a $16.5 billion semiconductor supply deal with Samsung Electronics ( OTCPK:SSNLF ), identifying Tesla as the unnamed party in a regulatory filing posted by the South Korean tech giant earlier.

Shares in Samsung Electronics fell 1% on Tuesday after the South Korean technology company staged a powerful rally in the previous session on news of a $16.5 billion deal to supply chips to Tesla .

Samsung Electronics’ newly announced W22.8tn ($16.5bn) foundry contract with Tesla (NASDAQ: TSLA) could be “a long-term growth catalyst” for the company’s

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