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South Korea’s SK Hynix plans to issue American depositary receipts on Nasdaq. The world’s second-largest memory-chip maker said it is looking to raise more than $29 billion, and expects trading to begin July 10.
In recent days, Alibaba Group has sued the U.S. Department of Defense to challenge its designation as a Chinese military-linked company, while also facing accusations from Anthropic that operators tied to its Qwen AI lab illicitly accessed Claude AI models through large-scale misuse of fake accounts. Together, these legal and AI-related controversies intensify regulatory and reputational pressure on Alibaba at a time when its cloud and artificial intelligence ambitions are central to its...
In a letter obtained by The Wall Street Journal, Anthropic alleged that Alibaba and its AI unit conducted “the largest known distillation attack” on the company to date.
(Bloomberg) -- Alibaba Group Holding Ltd. shares slid to a 16-month low in Hong Kong after Anthropic PBC accused the Chinese technology giant of “illicitly” accessing its artificial intelligence model. Most Read from BloombergInvestor Who Scored 900% Win in 2008 Crisis Has New Big Short BetStocks Slide as Wall Street Gets AI Wake-Up Call: Markets WrapStocks Climb Late After Micron’s Blowout Outlook: Markets WrapOracle Cut 21,000 Jobs in 12 Months, Says AI Replaced Some RolesGrand Ole Opry House
Anthropic has accused Chinese ecommerce giant Alibaba of obtaining illicit access to Claude by creating fake accounts designed to access the...
Anthropic has accused Chinese ecommerce giant Alibaba of obtaining illicit access to Claude by creating fake accounts designed to access the...
Anthropic alerted officials to what it said was illicit attempts by Alibaba to access Claude AI models.
Anthropic accused Alibaba, the Chinese technology and e-commerce giant, of illicitly extracting its Claude AI model capabilities, calling it the largest known distillation attack on the company to date, according to a letter seen by Reuters.
The offering would be one of the biggest share sales in history, comparable to Saudi Aramco’s 2019 initial public offering and surpassing Alibaba’s U.S. ADR offering in 2014. Micron Technology shares were up about 10% in aftermarket trading. The chip maker reported fiscal third-quarter results after the close that beat consensus revenue and earnings estimates.
Investing.com -- Alibaba Group (NYSE:BABA) shares slid 3% on Wednesday following reports that AI startup Anthropic has accused the Chinese tech giant of illicitly scraping its Claude AI models. According to a letter sent by Anthropic to US senators and White House officials, operators linked to Alibaba’s Qwen AI lab launched a massive, coordinated campaign to bypass restrictions using thousands of fraudulent accounts. Anthropic characterized the incident as the largest known attempt by a Chinese
The AI memory leader may move closer to New York trading after a more than 300% stock rally.
We recently published David Tepper Stock Portfolio: 10 Long-Term Stock Picks. Alibaba Group Holding Limited (NYSE:BABA) is one of the long-term stock picks. Chinese technology conglomerate Alibaba Group Holding Limited (NYSE:BABA)’s shares are down by 7% over the past year and by 32% year-to-date. It first appeared in Appaloosa’s 13F holdings in the third quarter […]
The Chinese tech giant Alibaba has sued the U.S. Department of Defense, demanding that it be removed from the Pentagon's list of Chinese military companies that prohibits them from landing U.S. defense contracts and carries reputational damage. In the petition filed this week in the San Jose division of the U.S. District Court in the Northern District of California, Alibaba, which is publicly traded on the New York Stock Exchange, argued that the designation, announced on June 8, has “no basis in fact or law" and that the Pentagon failed to reach its conclusion through any fair process. It is the latest lawsuit by a Chinese company against the Pentagon over such national security labels.
The Chinese e-commerce giant says the Pentagon's designation has no basis in fact or law.
The e-commerce and cloud giant called its designation "arbitrary and capricious" and says the label has already cost it business partners
Dayuan launches to select WeCom users, offering AI-powered analysis of chats, emails, and calendars.
U.S.-listed Alibaba stock fell early Wednesday toward a new 52-week low, with shares down more than 30% year-to-date.
The South Korean memory chipmaker plans to issue 17.79 million new shares, with trading expected to begin July 10
<body><p>STORY: :: SK Hynix</p><p>SK Hynix plans to raise up to $29.43 billion via the listing of American Depositary Receipts, the South Korean chipmaker said on Wednesday.</p><p>The move comes as the company seeks to expand its investor base and production capacity for chips used in artificial intelligence.</p><p>The world's second-largest memory chipmaker plans to issue 17.79 million new shares to back a listing of ADRs on the Nasdaq market on July 10, it said.</p><p>Proceeds will be used to build a chip factory, an advanced packaging fab and purchase equipment.</p><p>The company said 10 ADRs will be equivalent to one common share.</p><p>If completed at the top end of the indicated price range, the deal would become the largest-ever ADR offering.</p><p>:: SK Hynix</p><p>It would surpass the $21.8 billion raised by Chinese e-commerce giant Alibaba in 2014.</p><p>SK Hynix is a dominant supplier of high-bandwidth memory chips used in AI systems for customers such as Nvidia and Alphabet's Google.</p><p>it's one of the biggest beneficiaries of the global AI boom, becoming South Korea's most valuable company on Monday, overtaking Samsung Electronics.</p></body>
The chip maker is seeking to tap foreign investors to fund its expansion plans as the AI boom fuels a rush for advanced chips.
Chinese tech giant Alibaba has filed a federal lawsuit against the Defense Department for designating it a military-linked firm.
Retail sentiment remained cautious, with Stocktwits data showing SPY sentiment stuck in bearish territory while QQQ sentiment improved to bullish.
South Korea's SK Hynix said on Wednesday it plans to raise up to $29.4 billion through a U.S. stock market listing in what would be a record secondary listing, as the Nvidia supplier seeks to capitalise on strong investor appetite for AI stocks. If completed at the top end, the offering would be the largest U.S. listing by a Korean firm and potentially the biggest ever via American Depositary Receipts, surpassing Alibaba's $25 billion 2014 debut. The planned listing reflects strong global appetite for AI-linked equities, even as volatility increases across U.S. tech and semiconductor markets.
(Bloomberg) -- Tencent Holdings Ltd. is preparing to launch an AI agent for its Slack-like enterprise communication app, intensifying a high-stakes battle among Chinese tech giants to lock users into their ecosystems in the post-ChatGPT era.Most Read from BloombergStocks Slide as Wall Street Gets AI Wake-Up Call: Markets WrapOracle Cut 21,000 Jobs in 12 Months, Says AI Replaced Some Roles‘FOMO Really Got Me’: Taiwanese Go Deep Into Debt to Amp 100% Stock RallySpaceX Falls for Third Day, Erases $
Investors worry that geopolitical risks may lead to contract restrictions for the Chinese tech giant.
<body><p>STORY: Alibaba is suing the U.S. over Washington’s allegation it is linked to the Chinese military.</p><p>The e-commerce and technology giant filed the suit in a California court on Tuesday.</p><p>That’s after the Pentagon moved earlier this month to expand its list of alleged “Chinese military companies”.</p><p>It says Alibaba is a “contributor to the Chinese defense industrial base” through its affiliation with Beijing’s Ministry of Industry and Information Technology.</p><p>The company says that allegation has “no basis in fact or law”.</p><p>Alibaba says it is governed by independent board members, none of whom have any military affiliation.</p><p>Its lawsuit seeks removal from the list.</p><p>A Pentagon spokesperson declined to comment, saying the agency does not discuss pending litigation.</p><p>Under recent U.S. law, the Defense Department cannot contract with companies on the blacklist.</p><p>Other firms on the list include search engine giant Baidu and automaker BYD.</p></body>
Alibaba Group is seeking to be removed from a list of companies with alleged ties to China’s military.
(Bloomberg) -- SK Hynix Inc. is expected to submit a statement to Korea’s financial regulator for an offering of American Depositary Receipts, according to Korea Economic Daily.Most Read from BloombergStocks Slide as Wall Street Gets AI Wake-Up Call: Markets WrapOracle Cut 21,000 Jobs in 12 Months, Says AI Replaced Some RolesSpaceX Falls for Third Day, Erases $600 Billion in Market ValueKorean Stocks Tumble 10% as Extreme Volatility Rattles Investors‘FOMO Really Got Me’: Taiwanese Go Deep Into D
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