bailey lipschultz

Bailey Lipschultz notes SK Hynix priced at 3% premium to Seoul shares, opening near $171; emphasizes company will likely return to ADR market for capital once price stability achieved, as $26.5B raise is small relative to $1T capex plans; sees competitive dynamics with Micron and Samsung intensifying.

Anthropic's impending IPO (potentially September) will set the tone for AI public markets, while its advocacy for chip export controls has made it a political target for China ahead of US-China AI talks.

GameStop's potential bid withdrawal removes upside optionality for eBay shares; previous similar physical-store initiatives by eBay and Amazon have struggled.

The potential withdrawal of GameStop's bid removes upside optionality for eBay shareholders; GameStop's own stock weakness and dilution make a deal unlikely, consistent with eBay previously shutting down the idea.

GameStop's Ryan Cohen is considering withdrawing the $5.6B bid for eBay and pursuing a joint venture instead, as GameStop lacks the capital for a full acquisition despite holding a ~10% stake; the physical store synergy thesis is unproven and not novel.

Kimi K3 model breakthrough drives unprecedented fundraising velocity; private rounds compressing into $35B then $50B valuations ahead of potential year-end IPO, reflecting intense investor demand for Chinese AI champions.

SK Hynix's US listing at $149 per ADR represents a 3% premium to Korean shares with $160B in demand, signaling massive investor appetite for HBM memory leader. Revenue tripling with 80% gross margins and sovereign Korean backing create durable competitive moat.