Samsung Electro-Mechanics gets $2.8 billion chip investment from Tesla, Nvidia, report says
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Samsung Electro-Mechanics gets $2.8 billion chip investment from Tesla, Nvidia, report says SEOUL, Oct 22 (Reuters) - South Korea's Samsung Electro-Mechanics 009150.KS will receive investment valued at 3.7 trillion won ($2.8 billion) from Tesla TSLA.O and Nvidia NVDA.O to build facilities making advanced chip substrates, known as FC-BGA for AI semiconductors, the Maeil Business Newspapera reported on Thursday.
Tesla will invest 1.1 trillion won and Nvidia 2.6 trillion won to build the production lines in the South Korean city of Sejong to supply the substrates under a long-term contract, the paper reported, citing industry sources.
($1 = 1,322.4400 won)
(Reporting by Jack Kim; Editing by Jacqueline Wong)
((jack.kim@thomsonreuters.com; +822 6936 1455;))
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