OpenAI shifts focus as SK Hynix targets $10 billion

Key Takeaways

• SK Hynix plans a U.S. listing by 2026, targeting up to $10 billion to fund AI chip expansion projects like its Yongin cluster and Indiana plant.
• OpenAI is discontinuing its Sora video app and ChatGPT's video features to focus on business-oriented AI applications, impacting a $1 billion deal with Disney.
• Global data center investment for AI exceeded $580 billion in 2025, with over $120 billion in debt issued by hyperscalers for infrastructure.
• China is positioned to lead the AI race due to its abundant cheap energy, strong manufacturing capabilities, and growing open-source community.
• Power availability and cost are now primary drivers for data center site selection, with power infrastructure accounting for 40-50% of project costs.
• Block Inc. CFO Amrita Ahuja predicts significant job cuts across industries as AI advances and automates tasks.
• Kuaishou Tech reported a 12% revenue increase, with its Kling AI tool contributing to monetization and increased adoption.
• Trade Desk's stock is facing pressure due to concerns about AI's impact on the advertising industry and its future growth narrative.
• Eunice, a London-based company, raised $8 million for its AI-powered due diligence platform for regulated digital asset investments.
• Fitch Ratings indicates that tariffs and increased investment in artificial intelligence are causing divergence in international goods trade among U.S. states.

SK Hynix plans US listing by 2026 for AI chip demand

SK Hynix plans to list its American Depositary Receipts (ADRs) in the U.S. by 2026 to meet the high demand for AI memory chips. The company has not finalized the exact details of the public offering. SK Hynix is a major supplier of High Bandwidth Memory (HBM) chips, which are crucial for AI processors. Competitors like Micron and Samsung are also increasing their production capacity. The company's new M15X fab is complete, and its Yongin Semiconductor Cluster and Indiana packaging facility are progressing.

SK Hynix to list US shares this year amid AI chip boom

SK Hynix plans to list its shares in the U.S. this year to meet the surging demand for AI memory chips. This move will open access to global investors and increase liquidity during the current AI-driven memory cycle. The company has made a confidential submission to the U.S. Securities and Exchange Commission for the listing. SK Hynix is investing heavily in AI semiconductor advancements and is negotiating longer-term contracts to stabilize supply. They are also building a semiconductor cluster in Yongin, South Korea, and are working to maintain their lead in the HBM market against competitors like Samsung.

SK Hynix eyes $10 billion US listing for AI chip race

SK Hynix, a leading supplier of AI memory chips, is preparing for a U.S. listing expected to raise up to $10 billion. The company has filed confidentially with the U.S. Securities and Exchange Commission for an American Depositary Receipt listing targeted for 2026. The funds will support AI-focused expansion projects, including its HBM semiconductor cluster in Yongin, South Korea, and its Indiana packaging plant. This strategic move aims to strengthen its lead over competitors like Samsung Electronics and Micron Technology in the rapidly growing AI hardware market.

OpenAI shuts down Sora video app amid business shift

OpenAI is discontinuing its video generation model, Sora, just six months after its launch and three months after a significant deal with Disney. The company is also reportedly winding down ChatGPT's video functionality. This move signals a shift in OpenAI's strategy towards more practical, revenue-generating AI applications and away from experimental features. This decision comes as OpenAI prepares for a potential initial public offering and faces increasing competition in the AI market. The company is focusing on areas like coding tools and corporate customers.

OpenAI discontinues Sora video app to focus on business

OpenAI is discontinuing its Sora video platform app, marking a significant shift to focus on more lucrative business areas like coding tools and corporate clients. This decision impacts a $1 billion deal with Disney, though no money had changed hands. The Sora app required substantial computational resources, impacting other teams. OpenAI is now concentrating on building a unified super-app and other research areas like robotics and artificial general intelligence. This move comes as OpenAI prepares for a potential stock market debut later this year.

China poised to lead AI race with cheap power and manufacturing

Experts suggest China could become the biggest winner in the AI race due to its abundant cheap energy, strong manufacturing capabilities, and a growing open-source community. While the U.S. faces energy bottlenecks and high infrastructure costs, China offers significantly lower electricity prices, especially in western provinces. This cost advantage, combined with efficient domestic manufacturing, makes AI applications like robotaxis and autonomous aircraft more affordable. Despite challenges in monetizing AI products in a competitive market, China's strategic advantages position it strongly against the U.S. AI boom.

China leads AI race with cheap power and manufacturing

China is well-positioned to lead the AI race due to its abundant cheap energy, advanced manufacturing, and a thriving open-source ecosystem, according to analysts. While the U.S. faces energy constraints and high costs, China benefits from significantly lower electricity prices and a robust domestic supply chain. This allows for more affordable development of AI applications like robotaxis and autonomous aircraft. Despite intense competition and monetization challenges, China's cost advantages and growing capital spending are seen as key strengths against the U.S. AI market.

AI drives massive investment in data centers

The demand for artificial intelligence is reshaping the data center industry, leading to unprecedented investment and a focus on power availability. Global data center investment exceeded $580 billion in 2025, with over $120 billion in debt issued by hyperscalers for AI infrastructure. Build costs increased by 47% due to power intensity and complexity, with power infrastructure now accounting for 40-50% of project costs. Site selection is now driven primarily by power certainty, and capital is deploying earlier in the development cycle, often sourced from private credit. Community and regulatory risks are also significant considerations, with many U.S. projects facing delays.

Block CFO predicts AI will cause major job cuts

Block Inc. Chief Financial Officer Amrita Ahuja believes significant job cuts are inevitable as artificial intelligence advances. She stated that companies must prepare for these changes, as AI will automate many tasks currently performed by humans. Ahuja emphasized the need for businesses to adapt by reskilling employees and reevaluating staffing needs. While she did not specify which roles would be most affected, the impact is expected to be widespread across various sectors. This perspective highlights growing concerns about the future of work in an AI-driven economy.

Kuaishou Tech sales rise with AI monetization

Kuaishou Tech reported a 12% increase in fourth-quarter revenue, reaching 39.6 billion yuan ($5.7 billion). The company's text-to-video AI tool, Kling AI, saw revenue grow to 340 million yuan, with increased adoption by professional creators and enterprise clients. Kuaishou also boosted its research and development spending by 19% last year, mainly investing in AI and employee costs. This growth indicates accelerating monetization of its AI capabilities.

Trade Desk stock struggles amid AI and Publicis concerns

Trade Desk's stock is facing pressure due to fallout from Publicis Groupe's reports and broader concerns about AI's impact on the advertising industry. Investors are reassessing the company's ability to maintain pricing power and growth as AI capabilities expand. A Reuters report also highlighted AI disruption fears in private markets, affecting tech valuations. Analysts have become more cautious, with several downgrading the stock. Trade Desk shares are trading near their 52-week low, reflecting investor unease about the company's future growth narrative.

Rezolve AI CFO Arthur Yao files initial shareholdings

Rezolve AI PLC Chief Operating and Financial Officer Arthur Yao has filed an initial ownership report detailing his equity stake. Yao directly holds 2,000,000 Ordinary Shares. He also holds several option grants with a nominal exercise price of $0.0001 per share, expiring in September 2034. These options allow him to purchase a total of 501,716 Ordinary Shares at various dates starting from September 2024, under the company's Long Term Incentive Plan.

Eunice raises $8 million for AI due diligence platform

Eunice, a London-based company developing AI-powered due diligence infrastructure for regulated markets, has raised $8 million (£6 million) in a new funding round. The company uses AI agents to assess and document digital asset investments, working with firms like Coinbase and Crypto.com. Eunice aims to standardize the assessment process for regulated digital asset investments, making it more transparent and defensible. The funding round was led by Moonfire Ventures and Speedinvest, with participation from Openspace Ventures and angel investors.

Fitch: Tariffs and AI investment cause trade divergence in US states

Fitch Ratings reports that tariffs and increased investment in artificial intelligence are creating divergence in international goods trade among U.S. states. The report highlights how these factors are influencing the economic landscape and trade patterns across different regions. Specific details on which states are most affected and the exact nature of the divergence were not provided in the brief summary.

Sources

• SK Hynix files confidentiality for U.S. listing as it rides intense demand for AI memory chips
• SK Hynix to Float US Shares This Year to Feed AI Memory Surge
• SK Hynix eyes $10B US listing: what it means for AI chip race
• Sam Altman Is Finally Admitting Something No One Else Wants To
• OpenAI set to discontinue Sora video platform app, WSJ reports
• China could be the ‘big winner’ in the AI race, thanks to abundant power, cheap manufacturing, and an open-source craze
• China could be the ‘big winner’ in the AI race, thanks to abundant power, cheap manufacturing, and an open-source craze
• 2026 Data Center Marketplace Report
• Block CFO Says Deep Job Cuts From AI Are an Inevitability for Companies
• Kuaishou Tech Sales Climb as AI Monetization Gains Momentum
• Trade Desk Stock Stalls As Investors Weigh Publicis Fallout And AI Risks
• Rezolve AI CFO files initial share and option holdings
• AI investment due diligence platform raises £6m
• Fitch Says Tariffs, AI Investment Drive Divergence In U.S. States’ International Goods Trade