Finance

South Korean memory chip giant SK Hynix saw its shares jump 13% during its first day of trading on U.S. exchanges. The $26.5 billion offering represents the largest ever U.S. initial public offering by a foreign company. The successful listing underscores the robust capital available for the global artificial intelligence infrastructure buildout.

Minutes from the June policy meeting and a new monetary report released Friday reveal a split within the Federal Reserve over whether to raise rates later this year. While the benchmark rate remains anchored between 3.5% and 3.75%, some participants are advocating for a hike to combat elevated inflation, while others point to a slowing labor market as a reason to hold steady. Markets currently price in a low probability of an interest rate increase at the upcoming late-July meeting.

Cryptocurrency prices moved higher this week despite renewed conflict between the U.S. and Iran that initially pressured risk assets. Bitcoin rose roughly 2.8% over the last seven days, trading near the $64,000 level as investor sentiment was bolstered by ETF inflows and optimism regarding pending digital asset legislation. However, some analysts warn that continued liquidity concentration in AI-related equities could limit further near-term gains for the crypto market.