Author

admin

Browsing

Samsung Electronics has entered into a $16.5 billion contract for supplying semiconductors to Tesla, based on a regulatory filing by the South Korean firm and Tesla CEO Elon Musk’s posts on X.

The memory chipmaker, which had not named the counterparty, mentioned in its filing that the effective start date of the contract was July 26, 2025 — receipt of orders — and its end date was Dec. 31, 2033.

However, Musk later confirmed in a reply to a post on social media platform X that Tesla was the counterparty.

He also posted: “Samsung’s giant new Texas fab will be dedicated to making Tesla’s next-generation AI6 chip. The strategic importance of this is hard to overstate. Samsung currently makes AI4.TSMC will make AI5, which just finished design, initially in Taiwan and then Arizona.”

“Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress,” Musk said on X, and suggested that the deal with Samsung could likely be even larger than the announced $16.5 billion.

Samsung earlier said that details of the deal, including the name of the counterparty, will not be disclosed until the end of 2033, citing a request from the second party “to protect trade secrets,” according to a Google translation of the filing in Korean on Monday.

“Since the main contents of the contract have not been disclosed due to the need to maintain business confidentiality, investors are advised to invest carefully considering the possibility of changes or termination of the contract,” the company said.

The company’s shares rose over 6% in trading on Monday to reach their highest level since September 2024.

Tesla was a probable customer, Ray Wang, research director of semiconductors, supply chain and emerging technology at The Futurum Group, told CNBC before Musk’s post. Bloomberg News had earlier reported that Samsung’s deal was with Tesla, citing a source.

Samsung’s foundry service manufactures chips based on designs provided by other companies. It is the second largest provider of foundry services globally, behind Taiwan Semiconductor Manufacturing Company.

The company stated in April that it aimed to commence 2 nanometer mass production in its foundry business and secure major orders for the next-generation technology. In semiconductor technology, smaller nanometer sizes signify more compact transistor designs, which lead to greater processing power and efficiency.

Local South Korean media outlets have also reported that American chip firm Qualcomm could place an order for chips manufactured using Samsung’s 2 nanometer technology.

Samsung, which is set to deliver earnings on Thursday, expects its second-quarter profit to more than halve. An analyst previously told CNBC that the disappointing forecast was due to weak orders for its foundry business and as the company has struggled to capture AI demand for its memory business.

The company has fallen behind competitors SK Hynix and Micron in high-bandwidth memory chips — an advanced type of memory used in AI chipsets.

SK Hynix, the leader in HBM, has become the main supplier of these chips to American AI behemoth Nvidia. While Samsung has reportedly been working to get the latest version of its HBM chips certified by Nvidia, a report from a local outlet suggests these plans have been pushed back to at least September.

This post appeared first on NBC NEWS

The Trump administration is reportedly blocking Taiwan’s president from stopping over in New York City, en route to a diplomatic meeting in Central America, following pressure from China.

The Financial Times reported Monday that the administration has denied Taiwanese President Lai Ching-te the opportunity to stop over in New York City during a planned trip to Paraguay, Guatemala and Belize — all countries that recognize Taiwan as its own independent country.

However, on Monday, the office of the president in Taiwan released a statement indicating that Lai ‘currently has no plans to go on an overseas visit,’ according to Taiwan-state media. A source familiar with the matter at the State Department confirmed that no formal travel plans for President Lai have been announced.

‘In consideration of the ongoing rehabilitation efforts in southern Taiwan following a recent typhoon and regional developments including the United States’ tariffs, the president currently has no plans to go on an overseas visit,’ the statement from President Lai said.

According to the Financial Times, which spoke with unnamed sources said to be intimately familiar with the alleged trip, Lai’s decision not to travel came after he was informed that he would not be able to stop in New York City on his way to Central America. 

Lai’s trip was also reportedly supposed to include a stop in Dallas, but it is unclear if the Trump administration was also planning to bar Lai from stopping there as well, according to the Financial Times.

The White House did not respond to Fox News Digital’s request for comment. However, a State Department source familiar with the matter indicated that the Trump administration continues to be committed to the government’s long-standing one China policy, rooted in the Taiwan Relations Act, joint diplomatic agreements with China and longstanding pledges crafted by the government in regard to Taiwan and China.

Despite being in line with longstanding government policy, the move still garnered criticism from some Asia policy experts and critics of Trump. 

Lyle Morris, a senior fellow on foreign policy and national security at the Asia Society’s Center for China Analysis, said the ‘first concrete move’ under Trump’s second term regarding Taiwan is ‘a cause for concern.’ 

‘The assumption is this decision was made in the context of ongoing US-China trade negotiations and a possible Trump-Xi meeting,’ Morris said on X. ‘Still, not a good sign for enduring US-Taiwan relations.’

‘Denying President Lai a transit is a deeply concerning break with bipartisan precedent and sends a reckless signal to Beijing that our partnership with Taiwan is on the negotiating table,’ added Democrat Sen. Andy Kim, D-N.J., in a post on X following the news about President Lai’s alleged travel. 

‘American leadership is now seen as deeply unreliable, with Trump’s fits and starts with Ukraine, NATO allies, and other key partners. I urge President Trump to reverse course and do what presidents of both parties have done and allow a transit, and ask my colleagues in Congress to join me in that call.’

News of the Trump administration’s decision to prohibit the Taiwanese president from stopping in New York City comes as the president is reportedly feeling out a potential trip to Beijing himself, alongside major U.S. CEOs. Nothing so far has been set in stone regarding Trump’s trip, however.

This post appeared first on FOX NEWS

President Donald Trump’s new deadline for Russia to end the conflict with Ukraine is an additional ‘step towards war,’ according to former Russian President Dmitry Medvedev.  

Medvedev, now the deputy chairman of the Security Council of Russia, cautioned that Trump’s announcement Monday that Russia must end the conflict with Ukraine in 10 to 12 days would not end well for the U.S. 

‘Trump’s playing the ultimatum game with Russia: 50 days or 10… He should remember 2 things: 1. Russia isn’t Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country,’ Medvedev said in a post on X on Monday. ‘Don’t go down the Sleepy Joe road!’

While Trump announced on July 14 that he would sign off on ‘severe tariffs’ against Russia if Moscow failed to agree to a peace deal within 50 days, Trump said Monday that waiting that period of time was futile amid stalled negotiations. 

‘I’m going to make a new deadline, of about 10 — 10 or 12 days from today,’ Trump told reporters from Scotland. ‘There’s no reason for waiting. It was 50 days. I wanted to be generous, but we just don’t see any progress being made.’

Trump’s remarks come as his frustration with Putin has grown in recent weeks amid no progress toward peace between Russia and Ukraine, and just a day after Russia launched more than 300 drones, four cruise missiles and three ballistic missiles into Ukraine, according to the Ukrainian air force.

 

Trump called out Putin for providing lip service during their discussions while not taking proactive steps to end the war. As a result, Trump said he’s grown ‘disappointed’ in the Russian leader and that he’s ‘not so interested in talking anymore’ with Putin. 

‘He talks — we have such nice conversations, such respectful and nice conversation. And then, people die the following night,’ Trump said Monday. 

Following Trump’s announcement about whittling down the deadline for a peace deal, Ukrainian President Volodymyr Zelenskyy thanked Trump for his ‘clear stance and expressed determination’ to resolve the conflict.

‘I thank President Trump for his focus on saving lives and stopping this horrible war,’ Zelenskyy said in a post on X on Monday. ‘Ukraine remains committed to peace and will work tirelessly with the U.S. to make both our countries safer, stronger, and more prosperous.’

Zelenskyy previously came under scrutiny from Vice President JD Vance in February during an Oval Office meeting for not voicing more gratitude for U.S. support for Kyiv as it battles Moscow.

Although Trump has historically boasted about having a solid relationship with Putin, he has publicly voiced increased frustration with Putin in recent weeks as the war rages on between Russia and Ukraine. 

‘We get a lot of bulls— thrown at us by Putin, if you want to know the truth,’ Trump said during a Cabinet meeting on July 8. ‘He’s very nice to us all the time, but it turns out to be meaningless.’

Fox News Digital’s Caitlin McFall contributed to this report.

This post appeared first on FOX NEWS

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (‘Questcorp’ or the ‘Company’) is excited to announce a strategic engagement with GRA Enterprises LLC, operating as the National Inflation Association (‘NIA’), to deliver a dynamic marketing and communications campaign aimed at boosting investor awareness and market visibility.

Under the terms of the agreement (the ‘NIA Agreement‘), which commences July 28, 2025, Questcorp will pay a one-time fee of US$30,000 for a three-month initial campaign, with the option for renewal. The NIA will leverage its expansive distribution channels-including targeted email lists, website features, and blog content-to highlight Questcorp’s compelling growth story and project developments.

‘As we continue advancing our highly prospective assets in British Columbia and Mexico, this partnership with NIA will allow us to connect with a broader investment audience and amplify our message at a pivotal time,’ said Saf Dhillon, Founding Director, President & CEO of Questcorp.

NIA, based in Mooresville, North Carolina, is an arm’s-length third party with a strong track record of investor communications for publicly traded companies. Questcorp confirms that no securities will be issued as part of this agreement and, to its knowledge, NIA does not currently own any equity or convertible instruments of the Company.

For more information about NIA: Contact ga@gerardadams.com or visit them at 112 Camp Lane, Mooresville, North Carolina, 28117.

About Questcorp Mining Inc.

Questcorp Mining Inc. is focused on the acquisition and exploration of precious and base metal projects across North America. The Company holds an option to acquire a 100% interest in the North Island Copper Property-covering 1,168 hectares on Vancouver Island, British Columbia-as well as the La Union Project in Sonora, Mexico, comprising 2,520 hectares. Both properties are subject to royalty obligations and represent high-potential targets for copper, silver, and gold exploration.

Contact Information

Questcorp Mining Corp.

Saf Dhillon, Founding Director, President & CEO
Email: saf@questcorpmining.ca
Telephone: (604) 484-3031
Website: https://questcorpmining.ca 

Forward-Looking Statements

This news release contains ‘forward-looking statements’ under applicable Canadian securities laws. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Readers are advised not to place undue reliance on forward-looking statements, which are based on current expectations and assumptions. The Company does not undertake to update or revise any forward-looking statements unless required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260142

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

House Speaker Mike Johnson, R-La., said Sunday that Jeffrey Epstein’s former girlfriend Ghislaine Maxwell deserves a life sentence, rejecting the idea of a potential pardon for the convicted sex trafficker.  

In an appearance on NBC’s ‘Meet the Press,’ Johnson was asked if he supported a pardon for Maxwell, but the speaker emphasized that the decision ultimately belongs to President Donald Trump. 

‘I think 20 years was a pittance,’ Johnson said of Maxwell’s time behind bars. ‘I think she should have a life sentence, at least. I mean, think of all these unspeakable crimes.’ 

‘I mean it’s hard to put into words how evil this was and that she orchestrated it and was a big part of it, at least under the criminal sanction, I think is an unforgivable thing,’ Johnson added, acknowledging that federal prosecutors identified more than 1,000 victims, many of whom were underage. ‘So again, not my decision, but I have great pause about that as any reasonable person would.’ 

While leaving the White House on Friday en route for Scotland, Trump was asked if he considered a pardon or clemency for Maxwell. The president left the door open, responding: ‘I’m allowed to do it, but it’s something I have not thought about.’

Johnson said he supports the position of the president, the FBI and the Justice Department that ‘all credible evidence and information’ be released, but emphasized the need for safeguards to protect victims’ identities. As for Maxwell, she was questioned by Deputy Attorney General Todd Blanche at federal prison in Tallahassee, Florida, for two consecutive days last week. Her lawyer told reporters she answered questions on about 100 potential Epstein associates as she angles for clemency. 

‘That’s a decision of the president,’ Johnson said of a potential Maxwell pardon. ‘He said he had not adequately considered that. I won’t get in front of him. That’s not my lane. My lane is to help direct and control the House of Representatives and to use every tool within our arsenal to get to the truth. I’m going to say this as clearly and plainly and repeatedly as I can over and over. We are for maximum disclosure. We want all transparency. I trust the American people. I and the House Republicans believe that they should have all this information to be able to determine what they will. But we have to protect the innocent. And that’s the only safeguard here that we’ve got to be diligent about, and I’m insistent upon doing so.’ 

Johnson criticized a petition for the release of all the Epstein files brought by Reps. Thomas Massie, R-W.Va., and Ro Khanna, D-Penn., as ‘reckless’ and poorly drafted, arguing that it ignored federal rules protecting grand jury materials and ‘would require the DOJ and FBI to release information that they know is false, that is based on lies and rumors and was not even credible enough to be entered into the court proceedings.’ 

The speaker said the petition also lacked safeguards for minor victims who were subjected to ‘unspeakable crimes, abject evil’ and who risk being ‘unmasked.’ Johnson said Massie and Khanna ‘cite that they don’t want child abuse, sex abuse information uncovered, but they cite the wrong provision of the federal code, and so it makes it unworkable.’ The speaker argued Republicans on the House Rules Committee are committed to a better drafted approach that will protect the innocent. 

Asked about a potential pardon for Maxwell, Massie told NBC’s Kristen Welker earlier in the program that it ‘would be up to the president, but if she has information that could help us, I think that she should testify.’ 

‘Let’s get that out there, and whatever they need to do to compel that testimony, as long as it’s truthful, I would be in favor of,’ Massie said. 

Khanna said he did not believe Maxwell’s sentence should be commuted and that he was concerned that Blanche was meeting with her. He said he agreed with Massie that Maxwell should testify but noted she has been indicted twice for perjury.

‘This is why we need the files. This is why we need independent evidence,’ Khanna said. 

This post appeared first on FOX NEWS

President Donald Trump blasted the European Union for not providing aid to Gaza on Sunday, adding that Israel must ‘make a decision’ about how to handle the region with Hamas still holding hostages.

Trump made the comments while meeting with European Commission President Ursula von der Leyen in Scotland. He said that the U.S. has given millions in aid to Gazans, but claimed there has been no assistance from European countries.

‘We gave $60 million two weeks ago for food for Gaza, and nobody acknowledged it. Nobody talks about it. And it makes you feel a little bad when you do that. And, you know, you have other countries not giving anything. None of the European countries, by the way, gave – I mean, nobody gave but us and nobody said, gee, thank you very much. And it would be nice to have at least a thank you.’

Trump went on to note that a deal needs to be made between Israel and Hamas to end the war and return the last remaining hostages to Israel, despite many of them being dead.

‘But we have a lot of bodies, and the parents want those bodies as much as they would want their child if that child were alive,’ Trump said of the hostages and their families.

He suggested that Hamas is reluctant to make a deal for the final hostages because they feel it would be ‘the end for them’ if they lose leverage against Israel.

‘You know, they had a routine discussion the other day and all of a sudden they hardened up. They don’t want to give them back. And so Israel is going to have to make a decision,’ Trump said.

The meeting comes as the IDF highlighted its efforts to deliver aid into Gaza after restricting the flow in recent months.

Israel is now conducting airdrops for aid throughout the region, and the IDF says it conducted 28 drops in a matter of hours on Sunday.

‘Let me be clear: Israel supports aid for civilians, not for Hamas. The IDF will continue to support the flow of humanitarian aid to the people of Gaza,’ an IDF spokesperson said, claiming Israel transferred roughly 250 trucks full of aid into Gaza this week.

The IDF argues the reports about starvation in Gaza were a false campaign promoted by Hamas, but hunger is spreading across the region after the United Nations and the IDF previously failed to reach an agreement about aid distribution, Fox News’ Trey Yingst reported. 

This post appeared first on FOX NEWS