South Korea's Samsung Electronics signed a $16.5 billion, eight-year contract to supply semiconductors to a global company, which Elon Musk said was Tesla.,

Samsung Electronics shares opened 3.5% higher after the company disclosed a $16.5 billion contract to supply semiconductors to a major global corporation.

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Elon Musk announced Telsa signed a deal for $16.5 billion to obtain semiconductor chips from Samsung Electronic, on Sunday.

Tesla is up 0.2%, and Samsung's stock in South Korea jumped 6.8%, as U.S. stocks hover near record highs.

Tesla’s $16.5B Samsung deal goes beyond chipmaking, boosting AI ambitions, strengthening supply chains, and reshaping its role in automotive tech.

South Korea's Samsung Electronics signed a $16.5 billion, eight-year contract to supply semiconductors to a global company, which Elon Musk said was Tesla.,