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Forbes
25 minutes ago
- Forbes
Musk Announces Deal With Samsung For Tesla AI Chips Made In Texas
Tesla CEO Elon Musk announced late on Sunday that Samsung will manufacture the car maker's next-generation AI chip at its upcoming Texas semiconductor plant as part of a deal worth $16.5 billion, in a significant boost for Samsung's struggling chipmaking arm. Tesla CEO Elon Musk announced that Samsung will manufacture Tesla's next-generation AI chips. Getty Images In a post on X, Musk announced that 'Samsung's giant new Texas fab will be dedicated to making Tesla's next-generation AI6 chip,' adding: 'The strategic importance of this is hard to overstate.' In a regulatory filing made in South Korea shortly before Musk's announcement, the electronics giant announced it had secured a $16.5 billion contract with a 'large global company.' The multi-year deal will run through till the end of 2033, and Samsung's semiconductor fabrication plant in Taylor, Texas, is scheduled to begin operations in 2026. In a follow-up post, Musk said Samsung has agreed to 'allow Tesla to assist in maximizing manufacturing efficiency,' but he didn't specify whether this meant Tesla would assist in bringing the plant into operation. Musk pointed out the Samsung fab 'is conveniently located not far from my house' and claimed he would walk the production line 'personally to accelerate the pace of progress.' Musk pointed out that Samsung currently manufactures Tesla's AI4 chip. The billionaire said his company has completed the design for the AI5 chip, which will be manufactured by TSMC, Samsung's primary chipmaking rival. According to Musk, the AI5 chips will be first manufactured in Taiwan and then later at TSMC's Arizona plant. How Have The Markets Reacted? Shortly after the announcement, Samsung Electronics' Seoul-traded shares surged 6.22% to $50.6 (KRW 70,000).
Yahoo
an hour ago
- Yahoo
The Open Group Launches The Open Group Open Digital Transformation™ Forum
Standards body aims to spur faster, more effective transformation initiatives SAN FRANCISCO, July 28, 2025--(BUSINESS WIRE)--The Open Group, the vendor-neutral technology consortium, has today announced the formation of The Open Group Open Digital Transformation™ Forum (ODXF). This new initiative will support enterprise Digital Transformation by developing and popularizing pragmatic, open standards in this increasingly valuable and challenging space. By establishing clear guidelines for Digital Transformation initiatives and enabling cross-industry collaboration to share insights and best practices, ODXF aims to ensure that a greater share of Digital Transformation investment globally delivers effective returns on investment and measurably positive impacts on cultural, workforce, and technological changes. "The vast majority of enterprises today are engaged in Digital Transformation initiatives, with significant global spend in Digital Transformation," commented Rashed Al-Yami, Governing Board Member of The Open Group and Manager Digital Platforms & Architecture Design Division at Aramco. "By developing open standards through vendor-neutral collaboration, ODXF can influence the Digital Transformation agenda towards more rigorous and successful practices." Key focus areas for ODXF include developing standardized frameworks for Digital Transformation initiatives, ensuring consistency, and producing reference architectures which organizations can incorporate in order to make their own Digital Transformation journeys more agile and responsive. The Forum will also collaborate on establishing a body of knowledge, which incorporates a range of documents designed to help users operationalize the standard, as well as ultimately delivering a certification program for practitioners to demonstrate that they understand and can apply best-in-class approaches to Digital Transformation. "Digital Transformation is not a new term, but the emergence of a range of disruptive technologies, from AI to quantum computing, has made it more urgent than ever for businesses to find a clear guiding path towards proven approaches to this challenge," said Steve Nunn, President and CEO of The Open Group. "Our track record of bringing industry stakeholders together in a neutral, collaborative space means that The Open Group is well placed to add value to one of the world's major areas of investment." To learn more about The Open Group Open Digital Transformation Forum, please visit here. About The Open Group The Open Group is a global consortium that enables the achievement of business objectives through technology standards and open source initiatives by fostering a culture of collaboration, inclusivity, and mutual respect among our diverse group of 900+ memberships. Our Membership includes customers, systems and solutions suppliers, tool vendors, integrators, academics, and consultants across multiple industries. View source version on Contacts Media contact Monika BoudovaHotwire for The Open GroupUKOpengroup@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
FTSE 100 Live: Stocks Set to Bounce on EU-US Tariff Deal
The US and the EU agreed a deal that will see the bloc face tariffs of 15% on most exports, staving off the prospect of a damaging trade war. The pact was done less than a week before the deadline on Friday for the higher tariffs imposed by the US to take effect. Importantly, it includes cars. US President Donald Trump and European Commission President Ursula von der Leyen announced the deal Sunday at his golf club in Turnberry, Scotland, although they didn't disclose the full details of the pact or release any written materials.
