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Investing.com -- Graphjet Technology (NASDAQ:GRPT) stock surged 56% in pre-market trading after the graphite and graphene producer announced it stands to benefit from the expansion of semiconductor manufacturing in the United States, particularly in AI chip production.The company highlighted recent industry developments, including Tesla CEO Elon Musk’s announcement of a $16.5 billion chipmaking agreement with Samsung lasting until 2033. Under this deal, Samsung’s Texas fabrication plant will be dedicated to producing next-generation AI6 inference chips designed for humanoid robots, self-driving cars, and AI data centers.Graphjet CEO Chris Lai stated that the company is well-positioned to capitalize on the growing semiconductor industry, noting that "graphite and graphene plays a crucial role in semiconductor manufacturing, particularly in processes requiring high temperature and precise control."The announcement comes amid significant investments in U.S. semiconductor manufacturing, including Taiwan Semiconductor Manufacturing Company’s (NYSE:TSM) planned additional $100 billion investment and Nvidia’s (NASDAQ:NVDA) development of supercomputer manufacturing plants in Texas.Lai added that the semiconductor industry expansion aligns with Graphjet’s plans to build a production plant in Nevada. The company has begun generating revenue and reports increasing interest from potential clients, including visits from corporate representatives, sample requests, and more qualification processes.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.