SK Goes All-in on Chips

SK Goes All-in on Chips

Following a series of annual strategy meetings led by Chairman Chey Tae-won, SK Group [034730:KS] announced that its semiconductor unit, SK Hynix [000660:KS], will invest ₩103trn through 2028. Some 80% of this total will go towards its high-bandwidth memory chip business. Meanwhile, South Korea’s export growth increased last month, Bloomberg reported, driven by international demand for semiconductors.

EU Expands Tech Crackdown

One week after accusing Apple [AAPL] of breaking rules laid out in its Digital Markets Act, the EU has launched a similar case against Facebook parent Meta [META]. Issued on Monday, preliminary findings expressed concern regarding Meta’s “pay or consent” model, whereby Facebook and Instagram users can pay to keep their data private. Regulators said this model presents a financial barrier, creating a false alternative for consumers who are compelled to use the services, reported the Financial Times.

June Was a Good Month for Chinese EV-Makers

NIO [NIO] delivered 21,209 smart electric vehicles (EVs) in June, a year-over-year increase of 98.1%, Seeking Alpha reported; NIO’s deliveries in Q2 were up 143.9%. XPeng [XPEV], meanwhile, delivered 10,668 smart EVs in June, a 24% jump year-over-year. Lastly, Li Auto [LI] delivered 47,774 units in June, up 46.7% year-over-year. “Li Auto has reclaimed the top spot in sales among China’s emerging new energy auto brands”, commented Chairman and CEO Xiang Li.

Which Pharma Did Best in Q2?

Alnylam Pharmaceuticals [ALNY] performed better than any other large-cap pharma or biotech in Q2, Seeking Alpha detailed, with a 62.6% share price rally across Q2. Elsewhere, French drugmaker Sanofi [SNY] is set to make an investment of up to €1.5bn at a major production site in Frankfurt, Germany, according to German newspaper Handelsblatt, as covered by Reuters. The company produces its insulin brand Lantus at the site.

Boeing-Spirit Deal Details Finalised

Having spun off Spirit AeroSystems [SPR], the world's largest standalone aerostructures company, back in 2005, Boeing [BA] is now to buy it back for $4.7bn in stock, while Airbus [AIR:PA] will take on the supplier’s loss-making European wing. “Bringing Spirit and Boeing together will enable greater integration of both companies' manufacturing and engineering capabilities, including safety and quality systems,” said Spirit CEO Pat Shanahan in a statement.