Story: Samsung Electronics Stock reported on Monday (July 28) about Tesla’s bargaining chips.
Elon Musk said his electric vehicle company has signed a $16.5 billion semiconductor contract.
This has a great driving force for Samsung to formulate a loss contract bargaining business.
After the news, by early afternoon, the company’s stock rose about 6%.
Musk said the new US Samsung facility will be dedicated to producing chips.
This could refer to a planned factory in Taylor, Texas, which faces delays in a South Korean company’s efforts to win and retain large customers.
Musk said the plant is located near his house and he will personally inspect it to speed up progress.
This is all in time for Samsung, which lags behind competitors in providing AI chips.
Local rivals SK Hynix and Taiwanese giant TSMC are both considered to be the leader.
This has a serious impact on Samsung’s profits and stock price.
Analysts say the deal could help South Korea as well because of its struggle to reach a deal with the United States
The country is seeking a partnership for chips and shipbuilding as part of a talk to avoid a potential 25% tariff.
