Samsung Electronics signs $16.5 billion chip-supply contract; shares rise
Abstract：Samsung Electronics shares opened 3.5% higher after the company disclosed a $16.5 billion contract to supply semiconductors to a major global corporation.
Samsung Electronics has entered into a $16.5 billion contract for supplying semiconductors, a regulatory filing showed Monday. Samsung shares were up more than 2% in early trading.
The South Korean memory chipmaker did not name the counterparty. It did not immediately respond to a request for comment on the contract.
Samsung is set to deliver earnings on Thursday and expects its second-quarter profits to more than halve as it struggles to capture AI demand from rival SK Hynix.
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