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Benzinga
Benzinga
Business
Anusuya Lahiri

Taiwan Semiconductor Stock Slips As Samsung Scores $16.5 Billion Tesla Chip Deal

Taiwan Semiconductor Semiconductor Taiwan Elon Musk TSM Nasdaq Samsung Tesla Inc. United States
Taiwan Semiconductor Manufacturing Co

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) stock is trading lower on Monday after Tesla Inc (NASDAQ:TSLA) CEO Elon Musk confirmed signing a $16.5 billion chip manufacturing deal with the Taiwanese contract chipmaker rival Samsung Electronics Co (OTC:SSNLF).

Musk tweeted that Samsung will build the EV giant’s next-generation AI6 chip at its massive new Texas fab, underscoring the project’s critical strategic value.

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