Samsung Secures Record $16.5 Bln Semiconductor Order
Samsung Electronics has secured a record-breaking semiconductor order worth 22.8 trillion won (about 16.5 billion US dollars), marking the largest chip contract in the company's history, according to South Korea's Yonhap News Agency on Monday.
The South Korean tech giant disclosed in a regulatory filing that the contract will be completed by 31 December 2033. While Samsung did not name the client or reveal further details due to business confidentiality, Bloomberg News reported that the deal is with Elon Musk's Tesla.
Elon Musk
confirmed
the Bloomberg report via X, stating that the goal is to build a factory in Taylor, Texas, to produce Tesla's next-generation AI6 chip.
The deal represents around 7.6 percent of Samsung's total revenue from the previous year and positions it as the largest semiconductor manufacturing contract the company has ever received.
Analysts believe this contract will offer a significant boost to Samsung's chip-making division, which has been trailing behind industry leader Taiwan Semiconductor Manufacturing Company (TSMC).
Following the announcement, Samsung's stock surged by 5 percent, reaching its highest level since September.
read more
Gold prices rise, 21 Karat at EGP 3685
NATO's Role in Israeli-Palestinian Conflict
US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria
Shoukry Meets Director-General of FAO
Lavrov: confrontation bet. nuclear powers must be avoided
News
Iran Summons French Ambassador over Foreign Minister Remarks
News
Aboul Gheit Condemns Israeli Escalation in West Bank
News
Greek PM: Athens Plays Key Role in Improving Energy Security in Region
News
One Person Injured in Explosion at Ukrainian Embassy in Madrid
News
Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters
Arts & Culture
"Jurassic World Rebirth" Gets Streaming Date
News
China Launches Largest Ever Aircraft Carrier
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
Business
Egyptian Pound Undervalued by 30%, Says Goldman Sachs
Arts & Culture
South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle
Sports
Get to Know 2025 WWE Evolution Results
News
"Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence"
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
Beirut Port Sees Container Traffic Surge to Highest Monthly Level in More than 5 Years
Taarek Refaat Beirut Port has recorded its highest monthly container traffic since 2019, signaling a notable rebound in Lebanon's maritime trade activity after years of stagnation and crisis. According to a statement issued Friday by the Port of Beirut's Management and Investment Authority, container throughput in July reached approximately 100,000 twenty-foot equivalent units (TEUs), a 39% increase compared to the same month in 2024, when the figure stood at 72,000 TEUs. The authority credited the surge to improvements in operational infrastructure, streamlined logistics services, and the renewed confidence of global shipping lines. The port's container terminal is operated by CMA CGM, a leading French container transportation and shipping company. 'This level marks the highest container activity at the port since 2019, reaffirming Beirut's position as a key maritime hub in the Eastern Mediterranean,' the statement said. The increase in activity follows a turbulent period for Beirut Port, which was devastated by a massive explosion in August 2020 that killed over 200 people and destroyed large parts of the surrounding area. Recovery efforts in the years since have been slow, hampered by Lebanon's ongoing economic and political instability. However, port officials say a combination of strategic reforms, improved operational flow, and international partnerships have led to a renewed sense of optimism. Shipping companies have begun to reintroduce Beirut into their regular routes, a vote of confidence in the port's ability to handle cargo efficiently and securely. 'The port is working to further enhance the working environment and upgrade services to ensure this positive momentum continues,' the statement added. Beirut Port, alongside Rafic Hariri International Airport, remains one of Lebanon's most vital trade and logistics gateways. The new figures come as a welcome sign of economic resilience amid a broader national crisis. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
See - Sada Elbalad
8 hours ago
- See - Sada Elbalad
US Sends $51.6 Million for Ukraine's Patriot System Support
Israa Farhan The US Department of Defense has allocated $51.6 million for technical maintenance and operational support of Patriot air defense systems delivered to Ukraine, according to newly analyzed government contracts. The contract, awarded to Raytheon Technologies, the sole manufacturer of the Patriot system, includes both advisory and hands-on assistance for Ukrainian forces operating and maintaining the American-made defense equipment. The data was obtained from the official US government spending platform, and analyzed by Russian news agency RIA Novosti. Since February 2023, the US has transferred Patriot missile systems to Ukraine as part of its broader military aid package aimed at strengthening Kyiv's defense against ongoing Russian air and missile attacks. The contract includes on-site assistance with system operation, maintenance, repair, and logistical support. In addition, Raytheon Technologies is also providing remote assistance via a telephone-based help service based in Poland. The deal falls under the Ukraine Security Assistance Initiative (USAI), which covers technical and operational services beyond direct military supplies. Due to Raytheon's exclusive ownership of the proprietary technologies and core system data, the contract was awarded without a competitive bidding process. The agreement was initially set for a 12-month term but includes options to extend it for three additional years, potentially running until 2028. In February 2025, the contract value is set to increase by a further $9.96 million, securing its continuation at least until February 2026. Meanwhile, Russia has repeatedly criticized the ongoing supply of Western weapons to Ukraine. Moscow argues that such actions undermine the prospects for peace and draw NATO members deeper into the conflict, warning that these moves constitute a dangerous provocation and escalation. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
See - Sada Elbalad
8 hours ago
- See - Sada Elbalad
Trump Approves $200 Mln Ballroom for White House Entertainment
Israa Farhan The White House is set for a significant expansion with the construction of a new $200 million grand ballroom, scheduled to begin in September and expected to be completed before the end of President Donald Trump's term in early 2029. This major project represents the first structural addition to the presidential residence since the Truman Balcony was added in 1948. The initiative follows Trump's return to office in January, during which he has already launched multiple renovations, including dramatic changes to the Oval Office with gold decor, historical portraits, statues, and large American flagpoles installed in the north and south gardens. A stone replacement of the Rose Garden is also underway. The new ballroom will cover approximately 90,000 square feet (around 8,300 square meters) and will have capacity for up to 650 guests. As part of the expansion, the East Wing of the White House will undergo a full modernization. Staff based in the East Wing, including aides to First Lady Melania Trump, will be temporarily relocated during the construction period. The ballroom aims to serve as a central space for hosting large-scale events, state functions, and official ceremonies. The project comes in response to Trump's consistent dissatisfaction with the White House's current entertainment capacity. Funding for the ballroom will be provided through private sources, including President Trump and supporting donors. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
