Samsung to produce Tesla chips in $16.5 billion multiyear deal

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Samsung Electronics Co. will produce semiconductors for Tesla Inc. in a new $16.5 billion pact that gives a boost to its underperforming foundry division.
South Korea’s largest company announced on Monday that it has secured a 22.8 trillion won chipmaking agreement with a global corporation that will run through the end of 2033.

Tesla, which already does business with Samsung’s contract chipmaking division, is that customer, according to a person familiar with the matter who asked not to be named, as the information isn’t public.

Samsung’s…



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Samsung to produce Tesla chips in $16.5 billion multiyear deal


Samsung Electronics Co. will produce semiconductors for Tesla Inc. in a new $16.5 billion pact that gives a boost to its underperforming foundry division.
South Korea’s largest company announced on Monday that it has secured a 22.8 trillion won chipmaking agreement with a global corporation that will run through the end of 2033.

Tesla, which already does business with Samsung’s contract chipmaking division, is that customer, according to a person familiar with the matter who asked not to be named, as the information isn’t public.

Samsung’s…



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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