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.,

Samsung will make Tesla's A16 chip in a deal worth 22.8 trillion won ($16.5 billion). The chip manufacturer had filed a regulatory contract with an unnamed entity, but Elon Musk announced Tesla as the other party on X (formerly Twitter).

Samsung's Taylor, Texas plant will begin producing the A16 chip for new Tesla vehicles and robotaxis in the years ahead.