Samsung Electronics said a trade deal between South Korea and Washington will help to alleviate business uncertainty, as the technology giant forecast more major chip orders after signing a $16.5 billion deal with Elon Musk's Tesla .

South Korea's Samsung Electronics signed a $16.5 billion, eight-year contract to supply semiconductors to a global company, which Elon Musk said was Tesla.,

Samsung Electronics Co.’s surprise $16.5 billion chipmaking deal with Tesla Inc. has breathed new life into a foundry business all but written off by many investors.