Musk backs Samsung AI chip deal, calls it ‘just the minimum'
Responding to a user on X who claimed Samsung "has no idea what they signed up for," Musk replied, "They do."
"I had a video call with the chairman and senior leadership of Samsung to go over what a real partnership would be like," Musk wrote. "Use the strengths of both companies to achieve a great outcome."
On Monday, Samsung announced it had secured a record-breaking $16.5 billion supply deal, which Musk later confirmed involves Tesla's next-generation AI6 chips -- for Full Self-Driving technology. Musk added that the disclosed amount was "just the bare minimum," suggesting the actual value of the deal could be even higher.
Following the announcement and Musk's endorsement, Samsung shares remained strong for a third consecutive day. On Monday, when the contract was revealed, Samsung shares closed at 70,400 won, marking the first time in nearly 10 months that the stock ended above the 70,000 won mark.
As of noon on Wednesday, its share price stood at 72,900 won, up 3.26 percent from the previous day.
In response to another X post questioning Samsung's ability to deliver chips using next-generation 2-nanometer technology -- and calling it an underdog compared to Taiwan's TSMC -- Musk responded, "Both TSMC and Samsung are great companies. It is an honor to work with them."
Meanwhile, Samsung chief Lee traveled to Washington on Wednesday amid speculation that his visit may be connected to the Korean government's tariff negotiations with the US.
While the purpose of Lee's US trip is unknown, he is expected to meet with major business partners to discuss global cooperation and support the Korean government's final efforts in the tariff talks, which must be concluded before August 1, when the US is set to reinstate a 25 percent "reciprocal" tariff.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
5 hours ago
- Korea Herald
Ubilink, Zettabyte, and WiAdvance Collaborate to Advance AI Computing in Taiwan
TAIPEI, Aug. 5, 2025 /PRNewswire/ -- WiAdvance Technology, an innovative cloud service provider under the Wistron Group, and Zettabyte Technology Corporation, a software solutions provider specializing in Zsuite, jointly announced today that they are initiating a collaborative evaluation with a leading AI supercomputing company. The three parties aim to establish a strategic partnership to enhance overall performance and application value in AI computing services. The Ubilink AI Center is equipped with 128 NVIDIA H100 GPU servers, delivering computing power up to 45.82 PetaFlops—offering world-class high-performance computing capabilities. The goal of this collaboration is to integrate the strengths of all three parties: Zettabyte's expertise in AI GPU infrastructure management, WiAdvance's extensive experience in enterprise system integration and cloud solutions, and Ubilink's robust computing infrastructure. The three companies are actively exploring potential collaboration models to accelerate AI innovation in Taiwan and provide comprehensive support for applications such as generative AI, deep learning, model training, and inference—empowering startups, enterprises, and research institutions alike. About Zettabyte Zettabyte is a global leader reshaping AI compute with high-performance, energy-efficient GPU infrastructure and full-stack software (GPU Infrastructure-as-a-Service, IaaS). Its turnkey platform, Zware, powers next-generation AI data centers through GPU Cloud, Managed Services, and sovereign-ready systems—built for scale, security, and sustainability. For more information, please visit About Ubilink Co., Ltd. is a joint venture between Foxlink Group and Shinfox Energy, Ubitus, established to advance Taiwan's AI infrastructure and supercomputing capabilities. Ubilink provides next-generation compute resources to support AI innovation across industries, from research to large-scale enterprise deployment. For more information, please visit About WiAdvance WiAdvance Technology, a subsidiary of Wistron Corporation, is an innovative cloud services company headquartered in Taiwan. Based on Cloud, Data and AI technology, WiAdvance provides cloud-based service and vertical solutions which suit various industries and operational scenarios, enabling the customers to boost the business in today's ever-changing world. WiAdvance boasts a robust cloud technology team and extensive experience in field deployment. For more information, please visit
Korea Herald
10 hours ago
- Korea Herald
Naver acquires Spain's top C2C platform Wallapop
Korean internet giant Naver said Tuesday that it has acquired a controlling stake in Spain's largest consumer-to-consumer platform, Wallapop, in a move to strengthen its foothold in the European digital marketplace. Naver said it acquired an additional 70.5 percent stake in Wallapop for 377 million euros ($436 million), bringing its total ownership to 100 percent. The Korean tech firm initially invested 115 million euros in 2021 and followed up with another 75 million euros in 2023. Wallapop boasts over 19 million monthly active users and facilitates peer-to-peer transactions across a wide range of categories, from everyday goods and electronics to used vehicles. The company has steadily grown its presence in the Iberian Peninsula and is expanding into southern European markets, including Italy and Portugal. The two companies have explored collaboration through technological integration, and Naver said it decided to acquire full ownership to unlock deeper synergy and accelerate growth. 'Wallapop has emerged as a formidable player in Spain's C2C landscape,' said Naver CEO Choi Soo-yeon. 'With the latest acquisition, we plan to combine Naver's technology, spanning search, advertising, payments and artificial intelligence, with Wallapop's user-friendly service to elevate the platform's capabilities and value proposition.' Naver has been actively investing in Europe since 2016 through funds managed by Korelya Capital, a venture capital firm established by Fleur Pellerin, former French Minister for Digital Economy. The company said it intends to use Wallapop as a strategic hub to deploy its technological expertise and e-commerce infrastructure across the continent. It will mark a significant step in Naver's global C2C expansion, adding Europe to its growing portfolio of platforms in North America, Korea and Japan, including Poshmark, Kream and Soda. 'With Wallapop's extensive product listings and rich storytelling potential, we aim to deepen our understanding of European consumer behavior and enhance the diversity of data in our AI ecosystem — ultimately strengthening Naver's global competitiveness,' Choi added.
Korea Herald
10 hours ago
- Korea Herald
Hanwha Life brings back dual CEOs for AI, global push
Hanwha Life Insurance's new co-CEOs, Vice Chair Kwon Hyeuk-woong and President Lee Kyung-keun, officially took office on Tuesday, reinstating a dual leadership structure for the first time in six years. Their appointments were approved at a temporary shareholders' meeting and board session held the same day. The top executives will lead the Korean insurer with independent representation rights. In a letter to employees, Kwon and Lee set a vision to transform Hanwha Life into a 'life solutions partner,' offering services that go beyond traditional insurance and are tailored to each stage of a customer's life. To achieve this, the new CEOs emphasized the need to strengthen artificial intelligence capabilities, calling AI essential for navigating the tech-driven transformation of the financial sector. 'As AI accelerates the arrival of a hyper-personalized era, the insurance industry must also deliver individualized solutions based on a deep understanding of each customer's life,' they said. The two leaders also stressed their commitment to expanding Hanwha Life's global business. 'We will continue pursuing our vision of becoming a global, comprehensive financial group; advancing our business in East Asia, including Indonesia, where we have established a full-service financial system; and expanding our presence in the US, where we've entered the brokerage sector,' they said. This year, Hanwha Life made a strategic investment in Indonesia's Nobu Bank and acquired a controlling stake in US brokerage firm Velocity Clearing. Both deals mark milestones for both the company and the Korean insurance industry as a whole. On Tuesday, the co-CEOs visited all 30 floors of the company's headquarters in Seoul's Yeouido district, greeting and encouraging the firm's 1,800 employees. The leadership change follows the departure of former CEO Yeo Seung-joo, who is moving to Hanwha Group to head its management support division. The dual CEO structure returns after its suspension in 2019, when Yeo became the sole CEO. Kwon, formerly CEO of Hanwha Ocean, is expected to oversee overall operations, while Lee, previously CEO of Hanwha Life Financial Services — a wholly owned subsidiary responsible for the firm's sales force — will focus on insurance strategy and core business development.
