
Editor’s Note: This story has been updated to include the latest developments
Elon Musk-led Tesla Inc. (NASDAQ:TSLA) has confirmed signing a massive $16.5 billion chip manufacturing deal with Samsung Electronics (OTC:SSNLF), marking a major win for the South Korean giant's foundry business as it fights for dominance in the booming AI chip market against rivals like Taiwan Semiconductor Manufacturing Co. (NYSE:TSM).