Samsung Electronics signs secretive $16.5 billion chip-supply deal, shares hit four week high

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Samsung Electronics has signed a $16.5 billion contract for supplying semiconductors to a major global corporation. The South Korean tech giant did not name the buyer but stated in a filing that the start date of this contract was 26 July 2024 and the end date was 31 December 2033.

Samsung Electronics‘ shares rose by as much as 3.5% in Seoul after the announcement, the company’s biggest intraday gain in almost four weeks, according to a Bloomberg report.

In its filing, the company noted that the deal signed on Saturday was related to contract chip…



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Samsung Electronics signs secretive $16.5 billion chip-supply deal, shares hit four week high


Samsung Electronics has signed a $16.5 billion contract for supplying semiconductors to a major global corporation. The South Korean tech giant did not name the buyer but stated in a filing that the start date of this contract was 26 July 2024 and the end date was 31 December 2033.

Samsung Electronics‘ shares rose by as much as 3.5% in Seoul after the announcement, the company’s biggest intraday gain in almost four weeks, according to a Bloomberg report.

In its filing, the company noted that the deal signed on Saturday was related to contract chip…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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