Elon Musk announces $16.5-billion chip supply deal between Tesla, Samsung

Tesla Inc. TSLA-Q CEO Elon Musk said the U.S. automaker had signed a US$16.5-billion deal to source chips from Samsung Electronics Co Ltd SSNLF, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business. Samsung’s shares jumped as much as 6.8 per cent to…