Evening Scan

SK Hynix announced a $29.4B US listing timed to the AI chip cycle. Alibaba moved its "unreliable entity" fight into court. Oracle's SEC filing confirmed what layoffs already signaled: fewer headcount, higher compute spend, more debt.

SK Hynix Eyes $29.4B US Listing, Trading Set for July 10 (paywall)

SK Hynix targets $29.4B in its US listing, with proceeds for additional capacity. This is a land grab, not a bet on the AI chip boom. (Bloomberg)

Alibaba Sues the Pentagon to Get Off Its Chinese Military List (paywall)

The "unreliable entity" label carries real commercial weight—it spooks US investors and partners—so Alibaba is using the courtroom as its lobbying vehicle. (NYT)

Oracle's 21,000 Layoffs Help Drive Its Debt-Fueled AI Investments

Oracle's SEC filing makes explicit what press releases obscured: headcount cuts paired with higher compute investment and increased debt. (Ars Technica)

Tesla Claims Driver 'Manually Overrode Self-Driving' in Deadly Texas Crash

Oracle's defense is predictable and will face scrutiny in discovery. (The Verge)