Samsung Electronics
has entered into a $16.5 billion contract for supplying semiconductors, a regulatory filing showed Monday. Samsung shares were up more than 2% in early trading.
The South Korean memory chipmaker, which did not name the counterparty, mentioned in its filing that the effective start date of the contract was July 26, 2024 — receipt of orders — and its end date was Dec. 31, 2033.
It did not immediately respond to a request for comment on the contract.
The company said in its filing that details of the disclosure, including the name of the counterparty would not be disclosed until the end of 2033, citing a request from the contract counterparty “to protect trade secrets,” according to a Google translation of the filing in Korean.
