Tesla signs $16.5bn chip deal with Samsung
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Tesla has outshined the broader market over the past year and analysts are sceptical about its future outlook.
Shares in Samsung Electronics eked out small gains on Tuesday, following a sharp rally the previous day after the South Korean technology company clinched a $16.5 billion deal to supply artificial intelligence chips to Tesla .
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The city of Lewisville, Texas, confirmed a Tesla charging device ignited an "intense" house fire that engulfed a Lexus and the home's upper floors Monday.
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Shares of Tesla ( TSLA 3.11%) climbed higher on Monday. The electric vehicle (EV) maker's stock gained 3% as of market close, but had jumped as much as 4.6% earlier in the day. The spike comes as the S&P 500 ( ^GSPC 0.02%) was flat and the Nasdaq Composite ( ^IXIC 0.33%) rose 0.3%.
The Tesla Supercharger Diner opened Monday in West Hollywood and Elon Musk is already teasing a Texas expansion.
Tesla CEO Elon Musk announced that Samsung will supply the Austin automaker's next-generation chips in a $16.5 billion deal at Samsung's Texas facility . "Samsung's giant new Texas fab will be dedicated to making Tesla's next-generation AI6 chip," Musk said in a post on X. "The strategic importance of this is hard to overstate."
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