Why Tesla Stock Jumped Today

Shares of (NASDAQ: TSLA) climbed higher on Monday. The electric vehicle (EV) maker's stock gained 3% as of market close, but had jumped as much as 4.6% earlier in the day. The spike comes as the S 500 (SNPINDEX: ^GSPC) was flat and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 0.3%.

Tesla signed a major deal with Samsung to manufacture its next-generation AI6 chips.

Tesla and Samsung's $16.5 billion deal will see the South Korean electronics giant manufacture Tesla's chips, producing them in its new factory in Texas.

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Source Fool.com