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Samsung to Produce Chips for Tesla (TSLA) in $16.5 Billion Deal

Samsung Electronics Co. will produce semiconductors for Tesla Inc. in a new $16.5 billion pact that gives a boost for its underperforming foundry division.South Korea’s largest company announced on Monday that it has secured a 22.8 trillion won chipmaking agreement with a global corporation that will run through the end of 2033. Tesla, which already does business with Samsung’s contract chipmaking division, is that customer, according to a person familiar with the matter who asked not to be name...

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