The S&P 500 gained 14.8% in Q2 2026, its strongest quarter since Q2 2020, as the Philadelphia Semiconductor Index soared 87.8% — while Bitcoin fell to $58,631, its lowest point of 2026.
Category: Markets
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US chip stocks cap worst AI week yet as semiconductor index sheds 5.3%
The PHLX Semiconductor index fell 5.3% on June 29 as Micron shed 6.7% and AMD declined 2.1%, capping a week in which the Nasdaq lost 4.6% amid deepening doubt about near-term AI revenue.
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Baidu’s AI chip unit Kunlunxin targets $50 billion Hong Kong IPO
Baidu’s semiconductor spin-off Kunlunxin is targeting a $50 billion valuation in Hong Kong, asking prospective investors to also commit to buying its chips.
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OpenAI weighs 2027 IPO delay as Altman holds firm on $1 trillion floor
OpenAI is considering a 2027 IPO delay after Sam Altman rejected any valuation below $1 trillion, sending SoftBank’s market cap down $38 billion on the news.
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Eli Lilly climbs 7% as EU regulators back Jaypirca across all CLL treatment lines
Shares in Eli Lilly rose 7.13% to $1,208.12 on June 26 after the EMA’s committee recommended approving pirtobrutinib for chronic lymphocytic leukemia across all treatment lines.
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SK Hynix targets $29 billion Nasdaq listing to fund AI memory expansion
South Korea’s SK Hynix filed to list ADRs on Nasdaq on 10 July, seeking to raise roughly $29 billion in what would rank among the largest US share offerings on record.
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Micron guides Q4 revenue to $50 billion as AI memory demand outruns supply
Micron reported Q3 FY2026 revenue of $41.46 billion — smashing guidance by $8 billion — and guided Q4 to $50 billion as AI memory demand outpaces chip supply.
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KOSPI tumbles nearly 10% as South Korea’s AI semiconductor rally cracks
South Korea’s KOSPI fell 9.99% on June 23, triggering a circuit breaker absent since the 2020 COVID crash, as SK Hynix and Samsung each lost more than 12% in a single session.
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Coinbase lists Anthropic and OpenAI pre-IPO perpetuals as $1.8 trillion AI IPO wave looms
Coinbase launched Anthropic and OpenAI pre-IPO perpetuals on June 22, giving non-US traders a public route to bet on AI labs valued at a combined $1.817 trillion.
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SpaceX stock falls 18% from its record high as IPO euphoria cools
SpaceX stock (SPCX) has retreated 18% from its $225.64 all-time high as rate-hike fears and the $60 billion Cursor acquisition weigh on the post-IPO rally.