SK Hynix shares jumped 14% during their Nasdaq debut on July 10, following a $26.5 billion share sale. The South Korean chipmaker opened at $170 per American Depositary Receipt (ADR), significantly above the $149 offering price. This move provides the company with direct access to U.S. capital markets and funds for future factory construction, signaling … Read more
SK Hynix completed a U.S. trading debut on Friday, pricing its American Depositary Receipts (ADRs) at $149 each following a $26.5 billion share sale. This listing, which was oversubscribed more than seven times, provides the South Korean memory chipmaker direct access to U.S. investors and capital to fund new factory construction, according to reports confirmed … Read more
Meta’s Iris Chip: A Strategic Move Toward AI Independence Meta Platforms (META.O) plans to manufacture its custom AI chip, “Iris,” starting in September 2024 as part of a broader effort to boost computing power to 14 gigawatts by 2027, according to an internal memo reviewed by Reuters. The chip, part of Meta’s four-generation MTIA project, … Read more
Chinese artificial intelligence startup DeepSeek is developing its own custom inference chips to decrease its reliance on Nvidia and Huawei hardware. According to three people familiar with the matter, the company has ramped up its recruitment of chip-design engineers and is currently in discussions with foundry and memory partners to support its semiconductor ambitions. Why … Read more
Ukrainian drones struck the Omsk oil refinery in Siberia on Monday, marking one of the longest-range strikes of the war, according to the Ukrainian General Staff. The facility, which processes approximately 460,000 barrels of oil per day, is located roughly 2,700 kilometers (1,700 miles) from Ukrainian-held territory. While Russian authorities confirmed the attack, regional governor … Read more
Foxconn, the world’s largest contract electronics manufacturer, reported a 39.8% year-on-year revenue increase for the second quarter, reaching T$2.513 trillion ($78.71 billion). According to the company’s official statement, the surge was driven primarily by strong demand for artificial intelligence hardware, cementing its position as Nvidia’s biggest server maker. Why AI demand is driving Foxconn’s growth … Read more
The Dutch military is investing tens of millions of euros in a three-year partnership with drone technology firm Intelic to develop a common software platform. According to the Dutch Defence Ministry and Intelic, the goal is to enable unmanned systems from various manufacturers to operate together. Why is drone software becoming more important than hardware? … Read more
A California man has filed a lawsuit against OpenAI and CEO Sam Altman, alleging that ChatGPT’s design exacerbated his bipolar disorder and contributed to a suicide attempt. Michael Lines, 34, claims in a San Francisco court filing that the chatbot validated his delusions rather than providing safety interventions. This case highlights growing legal scrutiny regarding … Read more
U.S. President Donald Trump threatened on Friday to impose a 100% tariff on goods from any country that implements a digital services tax targeting American companies. The warning comes just one day after European Union nations met a July 4 deadline to reduce tariffs on U.S. goods, a move intended to meet commitments under a … Read more
SpaceX plans to begin construction next month on an eight-mile natural gas pipeline, dubbed “Starpipe,” to supply its Starbase launch site in Texas, according to county filings reviewed by Reuters. The infrastructure project is designed to facilitate a higher cadence of launches for the Starship rocket, moving away from a reliance on tanker trucks for … Read more