TNB Tech Minute: SK Hynix Shares Plunge by Record 15% in South Korea

**SPEAKER_1** (0:00)
This episode is sponsored by Anthropic, the makers of Claude. Scott Wu spent his childhood winning math and programming competitions. Now he solves similar problems as CEO of Cognition, a successful AI startup. Find out more at the break.

**Imani Moise** (0:16)
Here's your morning TNB Tech Minute for Monday, July 13th. I'm Imani Moise for The Wall Street Journal. SK Hynix shares logged their steepest ever decline in South Korea today, closing down 15% in Seoul. The nosedive helped send the South Korean stock market almost 9% lower, which triggered a 20-minute trading halt. The decline marked an abrupt reversal in investor appetite after SK Hynix's American depository receipts soared 13% last Friday in their first trading day on the Nasdaq. There was no clear trigger for SK Hynix's fall, and shares are still up almost threefold over this year.
Meta is scaling up its Louisiana data center project and says it's now expected to cost more than $50 billion, up from $27 billion.
The project, which will be the company's largest data center, will hold five gigawatts of compute capacity. The journal previously reported that the initiative had raised concerns about burdening Louisiana electricity customers with higher costs. Meta says it's agreed to pay the cost of energy, water, and related infrastructure used by the data center.
And in another AI buildout, Intel says it plans to invest five billion euros to expand its manufacturing site in Ireland. As part of an effort to meet demand for AI and high performance chips. The company said the capital investment in the campus will boost production and advance research and development activities while utilizing capacity across the site's existing clean room space. Intel said the upgrade will help it strengthen Europe's semiconductor supply chain and serve industry demand. And that's your TNB Tech Minute. We'll be back this afternoon with more.

**SPEAKER_1** (1:54)
Anthropix collaboration felt like a true partnership, according to Loveable's Anton Ossica. That helped fuel the startup's greater mission.

**Anton Ossica** (2:02)
I'm super excited about this world where more things are possible. There is fundamentally more human agency that's unlocked when frictions for starting a company and building your product, they start disappearing. I think we're entering an era where there are more societal problems that are getting solved.
We're seeing that live with millions of people building on top of our platform.

**SPEAKER_1** (2:26)
How does he think other startups can tap into that energy?

**Anton Ossica** (2:29)
My advice to founders working with Anthropic would be to dig into a partnership and ask for help and spend time with the team because these are humans that actually really care. It starts feeling more like we're building something together than just a customer-vendor relationship.

**SPEAKER_1** (2:46)
How can Claude bring your vision to life? Get started at claude.com/problemsolvers.