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Benzinga
Benzinga
Business
Dylan Berman

Tesla Stock Is Climbing Higher Monday: What's Going On?

Samsung Tesla Inc. Elon Musk AMD Artificial Intelligence
The Tesla Trade

Tesla, Inc. (NASDAQ:TSLA) shares are trading higher Monday after the company announced a $16.5 billion artificial intelligence (AI) chips deal with Samsung.

What To Know: According to the Financial Times, Samsung Electronics secured an eight-year, $16.5 billion contract to produce Tesla's next-generation AI6 chip, marking the largest chip order Samsung has ever received from a single customer. The chips will be manufactured at Samsung's new Texas fabrication plant, part of a broader $40 billion investment supported by subsidies under the U.S. Chips and Science Act.

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