WS #11783
Meta jumps over 6% after releasing Muse Spark 1.1 and announcing plans to manufacture its own AI chip 'Iris' in September, while aggressively pricing its AI API at one-quarter of competitors. SK Hynix completed the largest US IPO ever by a foreign company, raising $26.5 billion, highlighting AI-driven memory chip demand. BTIG warns the SOX index is flashing 'ominous signals' with 15 days of 3%+ moves in 30 days, historically preceding 17%+ drawdowns.
Meta surges on AI chip and pricing strategy
Meta jumps over 6% after releasing Muse Spark 1.1 and announcing plans to manufacture its own AI chip 'Iris' in September, while aggressively pricing its AI API at one-quarter of competitors.
SK Hynix completed the largest US IPO ever by a foreign company, raising $26.5 billion, highlighting AI-driven memory chip demand.
BTIG warns the SOX index is flashing 'ominous signals' with 15 days of 3%+ moves in 30 days, historically preceding 17%+ drawdowns.