Tesla signs $16.5bn chip deal with Samsung
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Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business.
Grok, the AI chatbot by Elon Musk’s company xAI, rolled out in Tesla vehicles earlier this month alongside a recent software update. The large language model was recently in the news for making a series of pro-Hitler posts on X. Adapted to be controlled with your voice, GrokAI can’t currently control any vehicle functions.
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Investors knew electric vehicle (EV) sales have been slumping for Tesla ( TSLA -8.44%). The EV leader announced a 13.5% year-over-year drop in second-quarter deliveries on July 2. Yet the stock is tanking today after Tesla reported its full second-quarter financial update today.
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Elon Musk's net worth recently broke $400 billion, although it dropped back down to $364 billion as of this writing in mid-July, according to the Bloomberg Billionaire Index. Much of this wealth