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Benzinga
Benzinga
Business
Kaustubh Bagalkote

Samsung Electronics Shares Fall 2.54% Following Tesla's $16.5 Billion AI Chip Manufacturing Agreement

Samsung Tesla Inc.
Ho,Chi,Minh,City,,Vietnam,-,June,4,,2023:,White

Samsung Electronics Co. Ltd. (OTC:SSNLF) shares declined 2.54% on Tuesday morning on the South Korean exchange following Tesla Inc.‘s (NASDAQ:TSLA) confirmation of a $16.5 billion chip manufacturing partnership. Shares dropped from 70,800 won to 69,000 won before recovering to 70,400 won ($50.62).

Tesla CEO Elon Musk confirmed on Monday that his company will manufacture next-generation AI6 chips at Samsung’s Texas facility through December 2033.

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