GlobalFoundries Says No Commitment From Tesla On Chip Deal

GlobalFoundries, which fabricates chips for Advanced Micro Devices Inc, said on Thursday that Tesla had not committed to working with it on any autonomous driving technology or product, contradicting an earlier media report. CNBC reported on Wednesday, citing a source familiar with the matter that Tesla was working with AMD to develop its own artificial intelligence chip for self-driving cars. The report said GlobalFoundries Chief Executive Sanjay Jha's company was working directly with Tesla.

"Tesla has not committed to working with us on any autonomous driving technology or product," the spokesperson said in an email on Thursday.

Also Read: Tesla Working With AMD To Develop Chip For Self-Driving Car

Tesla's Model S, Model X and Model 3 vehicles use Nvidia Corp's products for their self-driving capabilities. The spokesperson for GlobalFoundries said that Jha's comments at the GlobalFoundries Technology Conference were not reported accurately.

The spokesperson said that in his presentation, Jha simply cited that companies like Apple, Google and Tesla are examples of companies showing interest in working closely with Silicon Valley companies to differentiate their offerings.

Shares of rival chip producer Nvidia, which fell as much as 4.7 percent on Thursday morning, pared some of its losses and were down 2.9 percent.

Shares of AMD and Tesla were marginally lower.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Bernard Orr)

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)