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Tesla signs $16.5 billion chip deal with Samsung
Tesla and Samsung Electronics have teamed up in a huge $16.5 billion deal—Samsung will supply chips for Tesla's cars all the way through 2033.
This is a big boost for Samsung's chip business, which has been losing ground (and money) to rival TSMC lately.
Deal could help Samsung bounce back from over $3.6 billion
Besides powering Tesla's tech, this deal could help Samsung bounce back from over $3.6 billion in losses earlier this year.
Even though the contract won't use Samsung's latest 2-nanometer chips due to production hiccups, landing Tesla as a major customer is a win that could lift Samsung's foundry revenue—and might even shape future tech partnerships between South Korea and the US.