Crypto trading platform Coinbase reported a surprise first-quarter loss and weaker-than-estimated revenue after the market close Thursday.
South Korean chipmaker SK Hynix has achieved the largest ever foreign listing in the US, raising $26.5bn by selling 177.9 million shares on the Nasdaq. The offering highlights strong investor appetite for AI-related companies.
South Korean chipmaker SK Hynix has successfully raised $26.5 billion in its New York share offering, the largest ever by a foreign firm in the US. The company, a key supplier to Nvidia, sold 177.9 million shares at $149 each, set to trade on Nasdaq.
Fidji Simo, OpenAI's product and business chief, announced her resignation to focus on recovering from a chronic illness, Postural Orthostatic Tachycardia Syndrome (POTS). She will transition to a part-time advisor role. Simo previously led Instacart and held leadership positions at Meta.
Fidji Simo, OpenAI's product and business chief, is stepping down to focus on recovering from a chronic illness, POTS. She will transition to a part-time advisor role. Simo previously led Instacart and held leadership positions at Meta.
Stocks rebounded Thursday, with the S&P 500 gaining nearly 1% and the Nasdaq jumping over 1%, as investors dismissed concerns about U.S.-Iran conflict escalation. Meta Platforms plans to aggressively ramp up AI compute capacity, releasing its strongest model yet, Muse Park 1.1, with an API for developers. FedEx launched a dedicated healthcare unit, while Starbucks aims to use AI for in-house software tools.
Anduril CEO Brian Schimpf stated the defense tech company is not in a hurry to go public due to current market conditions and high valuations. He believes a successful IPO requires investor returns, and a hype cycle is a bad time to launch. Despite increased demand for defense tech, the IPO market remains tepid.
