Tesla signs $16.5bn chip deal with Samsung
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William Blair analyst Jed Dorsheimer was all praise for Tesla Inc (NASDAQ: TSLA) $16.5 billion chip supply agreement with Samsung Electronics in an interview with CNBC today, but he won’t recommend buying the EV stock still.
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Tesla (TSLA) Stock Is Up, What You Need To KnowShares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 4% in the afternoon session after the company announced a significant, multi-billion dollar contract with Samsung Electronics to produce its next-generation AI chips.
The rally followed a regulatory filing confirming the contract, and a public post by Tesla CEO Elon Musk, who identified as the counterparty.
Investing.com -- Samsung Electronics’ newly announced W22.8tn ($16.5bn) foundry contract with Tesla (NASDAQ: TSLA) could be “a long-term growth catalyst” for the company’s chipmaking business, according to Bank of America (NYSE: BAC) (BofA) analysts.