Samsung to Make Tesla AI Chips, Nike Upgrade, PayPal Rises
On this edition of Stock Movers:- Samsung (SSNHZ) shares are surging after the company will produce AI semiconductors for Tesla Inc. in a new $16.5 billion pact that marks a win for its underperforming foundry division. South Korea’s largest company announced on Monday that it secured the 22.8 trillion won chipmaking agreement, which will run through the end of 2033. The plan is for an upcoming plant in Taylor, Texas, to produce Tesla’s next-generation AI6 chip, Tesla chief Elon Musk said on X, confirming a Bloomberg News report. Samsung’s Seoul-traded shares rose 6.8% to…
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