South Korean memory-chip maker SK Hynix is launching a $28 billion IPO in the U.S. on October 27, 2023, with demand reportedly seven times the available shares, signaling strong interest in AI memory investments. Initial jobless claims in the U.S. have dropped to 215,000, surpassing forecasts and indicating a steady labor market.
Investment analyst Luke Lango identifies a new trend in AI, stating that “agentic” AI, which automates labor tasks, significantly increases demand for computational resources, potentially leading to a 120 quadrillion monthly token count by 2030. He highlights that companies providing AI infrastructure, such as storage and networking, stand to benefit greatly.
Additionally, investor Brian Hunt suggests that Brazil could be pivotal in the AI infrastructure boom due to its rich reserves of rare earth elements and hydroelectric power, tied to the iShares MSCI Brazil ETF (EWZ), which has surged 38% in seven months. Meanwhile, Louis Navellier points to strong refining margins for U.S. oil refiners like Phillips 66 amidst rising energy demands resulting from Middle Eastern market instability, forecasting a 179% year-over-year earnings increase for the firm.
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