South Korea's Samsung Electronics signed a $16.5 billion, eight-year contract to supply semiconductors to a global company, which Elon Musk said was Tesla.,

By bno - Seoul Office As global demand for high-performance chips accelerates, especially in the fields of artificial intelligence and autonomous driving, chipmakers are battling for dominance in next-generation semiconductor manufacturing.

Samsung Electronics Co.’s surprise $16.5 billion chipmaking deal with Tesla Inc. has breathed new life into a foundry business all but written off by many investors.