Plus: Circle gets federal approval to launch a crypto-focused bank. And China successfully launched a reusable rocket. Julie Chang hosts.
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[00:00:00] This episode is sponsored by HPE. Today's networks must evolve from simply providing connectivity to harnessing AI to deliver exceptional connected experiences. At the break, HPE's Rami Rahim shares how self-driving networks can make that happen. Here's your afternoon WSJ Tech News Briefing for Friday, July 10th. I'm Julie Chang for The Wall Street Journal.
[00:00:22] South Korean memory chip maker SK Hynix debuted on NASDAQ today, following a blockbuster $26.5 billion offering yesterday. It marked the largest ever U.S. share sale by a foreign company. Shares opened at $170 each, 14% above its offering price of $149. The company plans to use the raised funds to expand its chip-making facilities and purchase advanced equipment.
[00:00:50] Circle Internet Group has received U.S. regulatory approval to establish a crypto-focused national trust bank called Circle National Trust. The bank will provide digital asset custody for the company and its affiliates under strict fiduciary standards and said the approval will strengthen the infrastructure of USDC, a stablecoin. The approval comes after Circle first submitted its application to the OCC last summer.
[00:01:19] The company received a conditional approval in December when the Trump administration agreed to plans to launch five new cryptocurrency-focused national banks. Finally, Beijing's space program reached a major milestone. According to state media, China launched and partially recovered a rocket today.
[00:01:42] Footage from state broadcaster CCTV showed a spacecraft launching into orbit around noon on Friday from the southern Hainan province. Minutes later, a giant net caught its booster upon descent. It marks China's first successful demonstration of rocket recovery technology. Experts say that while China still lags behind the U.S. in space capabilities, it's quickly catching up. China aims to land astronauts on the moon by 2030.
[00:02:10] And that's it for your WSJ Tech News Briefing. We'll have another Quick Tech Update Monday morning. Here again is HPE's Rami Rahim to explain why it's critical for modern enterprises to use AI-powered self-driving networks. Gone are the days where humans can keep up with the complexity and overcoming the cyber attacks that are happening using elbow grease.
[00:02:34] You must leverage agents and artificial intelligence in order to deliver a seamless connectivity experience to everyone and everything. It's not just people that are connected to the network today. It's AI agents. It's billions of things, in fact. You can't do this manually. It must be done using artificial intelligence. And everything from the deployment of the network, or speed matters, to the identification of issues that inevitably happen,
[00:03:04] to the remediation of those issues, needs to be done without human intervention. Find out how a self-driving network can help you deliver exceptional user experiences at HPE.com.