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Finance

SK Hynix Nasdaq debut puts ADR listing effects in focus

SK Hynix is set to enter the Nasdaq market on July 10 local time, raising expectations for a broader global investor base and a re-rating of its value. The company priced 177.9 million ADS at $149 each, for proceeds of about $26.5 billion, by issuing 17.79 million new common shares. Trading starts conditionally under SKHYV and switches to SKHY. Analysts note possible dilution and demand dispersion, and say past ADR cases did not guarantee long-term share gains.

AI & Enterprise

Neocloud market shifts as SoftBank and Meta enter

The neocloud market for AI-focused cloud computing is shifting as major players enter. SoftBank Group and its telecom unit SoftBank plan to start a neocloud business next fiscal year, renting AI computing resources to U.S. companies. Meta is also stepping up plans to use its data centres for cloud services. Nvidia is expanding support for smaller cloud firms that lease its GPUs. Big cloud companies are also building forward deployed engineer teams for enterprise AI.

AI & Enterprise

SoftBank to enter U.S. AI cloud computing market with SB Neo launch

SoftBank Group and its telecommunications unit SoftBank will start a neo cloud business from the next fiscal year to rent AI computing resources to U.S. companies, Bloomberg News reported. The two companies will establish SB Neo in July to supply AI chips and cloud services to large firms, including hyperscalers. SoftBank plans to raise data centre capacity to 10 gigawatts by around 2030, and SoftBank will hold 51 percent of SB Neo.