The Dow Jones index dipped on the stock market today. President Trump spoke on tariffs. Tesla popped after Elon Musk touted an AI deal.

Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 4% in the afternoon session after the company announced a significant, multi-billion dollar contract with Samsung Electronics to produce its next-generation AI chips.

Tesla's share price closed Thursday's session following the announcement of its June quarter results 8.20% lower at $305.30. Following the sharp selloff yesterday, Tesla's market capitalisation also declined $984.

Tesla reported second-quarter results after Wednesday's closing bell, unveiling profits and sales in line with Wall Street expectations. Losses mounted for the stock, however, as the company's call with analysts sowed more doubts than offered answers about Tesla's prospects and Chief Executive Elon Musk said he could see potential for "a few rough quarters" ahead.

Tesla’s stock has experienced major fluctuations since the Nov. 5 presidential election. AFP via Getty Images. The company’s shares and its future are seen as inextricably tied to Musk.

When Tesla first hit the market in 2008, CEO Elon Musk didn't just introduce a new car to the world, he changed the industry by redefining what a car could be. While not everyone was on board