SK Hynix approved issuance of new shares worth about $29.4 billion on June 24 to fund its American Depositary Receipts listing on Nasdaq. The July 10 debut aims to strengthen the company's capital base as AI server demand drives memory chip growth.
The move comes as the company seeks to strengthen its capital base amid surging AI-driven demand for its memory chips.
The latest filing aligns with the company's stated goal of bolstering its financial position to meet capacity and supply-chain needs in the high-bandwidth memory segment.
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Visa announced it will acquire Israeli fraud-detection startup BioCatch for $2.4 billion in cash from Permira and other investors. The purchase centers on behavioral biometrics technology and expands the payments company’s fast-growing value-added services business as global fraud losses surpass $1 trillion a year.
Visa plans to cut about 2,600 jobs, representing roughly 7% of its workforce, with AI cited as a significant but not sole factor. The company will redirect savings into growth areas such as affluent customers, cross-border activity and geographic expansion as it reports quarterly earnings the same day.
CXMT shares jumped nearly 466% in their Shanghai debut, closing at 49 yuan to reach a 3.3 trillion yuan market cap that exceeds every other China-listed firm. The $8.6 billion IPO haul will support memory wafer manufacturing while the firm commands 7.67% of the worldwide DRAM sector and stands to benefit from Beijing's semiconductor self-reliance campaign.
