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Korean retail investors pay 10 percent premium for SK Hynix ADR

Korean retail investors sharply increased purchases of U.S. stocks during a domestic market correction, with July net buying at about $4.5 billion, CNBC reported. SK Hynix ADRs drew about $840 million, ranking second in Koreans’ U.S. securities net buying, even though the shares are available at home. Arcadian Asset Management’s Owen Lamont said the ADR traded about 10 percent above the Korean shares and called the buying abnormal.

AI & Enterprise

OpenAI president dismisses executive departures as not unusual

OpenAI President Greg Brockman said a recent string of executive departures was part of a normal reshuffle and not particularly unusual. He said heightened attention around the company makes the changes seem bigger. OpenAI has seen key leaders leave in recent months, with at least 12 senior executives departing this year. The company has also been reported to have disbanded a safety team studying catastrophic risks from large models.

AI & Enterprise

Anthropic annualised revenue soars sevenfold to $65 billion, overtakes OpenAI

Anthropic’s annualised revenue reached $65 billion as of late July, up sevenfold from a year earlier, CNBC reported. The figure was shared with investors in a weekend update as the company accelerates growth on rising enterprise demand. Anthropic has stepped up preparations for an initial public offering, filing confidentially with the SEC in June. It also faced a recent disruption after temporarily suspending access to two top models to comply with export controls.