Samsung and Tesla enter into strategic deal for chip manufacturing
Initially, the news came out through the regulatory filing by Samsung, which was discovered, but after some hours, CEO Elon Musk posted on the social media platform X, ' Samsung agreed to allow Tesla to coordinate in driving the manufacturing efficiency, citing it as a critical point.'
Musk also stated that Samsung's new Texas fab will be dedicated to the generation of Tesla's next-gen A16 chips. Mush also stressed the great strategic importance of this decision.
'I will walk the line personally to accelerate the pace of progress, and the fab is located near my house,' Musk added.
The news brought an optimistic trend in Samsung's shares as the company's share rose to about 3.5 per cent on the Seoul Stock Exchange on Monday. It marks the biggest single-day jump in shares.
This deal also comes amid Samsung's chip foundry business, which is facing heavy competition from rivals like Taiwan's TSMC (Taiwan Semiconductor Manufacturing Company) and SK Hynix. Reportedly, Taiwan's TSMC is currently dominating the chip market due to its focus on research and intense efficiency.
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Business Standard
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Time of India
21 minutes ago
- Time of India
Starlink granted satellite internet permit; spectrum allocation norms ready: Scindia
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Mint
29 minutes ago
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