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News reporting focused on AI and machine learning, covering the companies behind these technologies, their real-world applications, and the ethical concerns they raise. This includes areas like generative AI (large language models, text-to-image and video), speech tech, and predictive analytics.
SK Hynix raised $26.5 billion in its U.S. market debut, the largest-ever IPO by a non-American company, surpassing Alibaba's 2014 record. The South Korean memory chip maker's stock surged 14% on opening as demand exceeded supply by seven times. Meanwhile, U.S. Commerce Secretary Howard Lutnick urged the company and competitors to build new factories in the United States.
South Korean memory chip maker SK Hynix announced plans to sell nearly 17.8 million shares in a U.S. IPO, potentially raising around $28 billion. The company will offer American depositary receipts, riding an AI-fueled boom that has driven memory demand and stock prices sharply higher. Pricing is expected Thursday with trading beginning Friday.
Google has placed an order with Intel to manufacture over three million AI chips for 2028, while Nvidia is testing Intel's manufacturing process for its next-generation Feynman GPU architecture. The moves come as TSMC struggles to keep pace with surging demand for AI chips, giving Intel's foundry business a rare second chance after years of losses. Memory maker SK Hynix is also evaluating Intel's packaging technology.
Suppliers of memory chips expect to fulfill just 60 percent of demand by the end of 2027, according to reports. Major producers like Samsung, SK Hynix, and Micron plan new factories, but most will not operate until 2027 or later. The focus on high-bandwidth memory for AI leaves consumer devices facing higher prices on phones, laptops, and more.