In the next couple of days, SK Hynix is set to list on NASDAQ with the ticker SKHY. According to the publicly filed plan, the listing is scheduled for July 10th, with a fundraising size approaching $29.4 billion. Once this amount is finalized, it will surpass the approximately $21.8 billion raised by Alibaba in New York in 2014, becoming the largest ADR issuance on record. But there's something worth mentioning here—this SKHY you can buy in your US stock account is different from the Hynix (ticker 000660) held by a Korean retail investor on the Seoul Exchange...

In the early morning of June 9, OpenAI announced that it had submitted a "confidential" S-1 filing to the SEC, initiating the IPO process. The target valuation is up to $1 trillion. It could go public as early as September. Combined with SpaceX, which is set to list on June 12 (valuation of $1.77 trillion), and Anthropic, which has already completed its confidential filing (private market valuation of $965 billion) — within one month, the three AI giants are switching from the private market to the public market...

June 12, Nasdaq. SpaceX is about to go public, ticker $SpaceX(SPCX.US). Target valuation $1.8 trillion, raising $75 billion—this is the largest IPO in human history, nearly three times the size of Saudi Aramco's 2019 offering ($25.6 billion). Let me emphasize what this number means: $75 billion is roughly 90% of Apple's annual free cash flow, equivalent to Warren Buffett taking out a quarter of Berkshire Hathaway's entire cash pile, or buying the entire Disney...

巴菲特和芒格认为，护城河是一家公司拥有的能长期组织竞争对手侵蚀其利润的结构性优势。注意"结构性"这个词——它肯定不是某款产品突然爆红带来的昙花一现，而是内嵌在公司商业模式里的东西。竞争对手就算知道你的护城河存在，也很难在短时间内模仿或超越。那么问题来了：怎么判断一家公司有没有护城河？从结构上看，护城河大致可以分为四种类型👇一、网络效应网络效应是护城河里的典型。一个产品，用的人越多...

In the past two months, as asset management giants like BlackRock have restricted redemptions from their private credit funds, Federal Reserve Chairman Powell's speech at Harvard University this week also focused on private credit. So, what exactly is private credit, and why is the entire market paying so much attention? Baike Jun is here to clarify it for you 👇 What is private credit? Private credit is essentially a lending market where lenders directly provide loans to companies without going through banks...

2026 年全球 IPO 市场最吸引投资者目光的大概就是 SpaceX 了。据悉，此次 SpaceX 上市提出了一个极具挑战性的筹码：要求在挂牌后的极短时间内被纳入纳斯达克 100 指数。那么，为什么马斯克执意要快速被纳入纳指 100？为什么是纳指而非标普？这些主流指数背后又蕴含了哪些门道？此次百科君带你一文看懂。一、首先理清指数与交易所的关系众所周知，美国两大证券交易所分别是纽约证券交易所&纳斯达克证券交易所...