Amkor Stock Surges 17% After $1.5 Billion Nvidia AI Packaging Partnership 
Paramount-Warner Bros. Merger Delayed Until 2027 Amid Antitrust Lawsuit 
Trump Administration Monitors OpenAI Incident as Lawmakers Push AI Kill Switch Bill 
AstraZeneca Q2 Earnings Beat Forecasts as Oncology Growth Supports 2026 Outlook 
Brown-Forman Rejects Sazerac’s $15 Billion Takeover Bid as Family Backs Independence 
Scandinavian Tobacco Group Sells BREAK and Moro Brands to Japan Tobacco for €176 Million 
SAP Beats Q2 Revenue Estimates as Cloud Backlog and Business AI Demand Drive Growth. 
Uber Stock Falls as Waymo Plans to End Robotaxi Partnership by 2028 
Intel Stock Slips After Earnings Rally Despite Strong AI-Driven Revenue Growth 
Nvidia Eyes $250B Guarantee for OpenAI’s Massive Ohio AI Data Center Project 
Zabka Shares Drop 10% as Seven & i Abandons Investment Plans 
Galp Shares Fall After Q2 EBITDA Miss Despite Profit Beat and Higher Dividend 
CXMT IPO Debut in Shanghai Puts $85.5 Billion Chipmaker in Spotlight 
Intel, AMD Seek Long-Term China Server CPU Deals as AI Demand Drives Supply Crunch 
Johnson & Johnson Proposes $5.5 Billion Talc Settlement to Resolve U.S. Ovarian Cancer Lawsuits 
CATL Shares Jump as $5.6 Billion Buyback Signals Confidence in Long-Term Growth 
ASML, Applied Materials Slide as China DUV Chip Equipment Breakthrough Sparks Market Jitters 
Chinese optical components manufacturer Zhongji Innolight has priced its Hong Kong initial public offering (IPO) at HK$980 per H share, raising HK$53.41 billion (US$6.81 billion) in what is set to become Asia’s second-largest IPO of 2026. The Shenzhen-listed company sold 54.5 million shares, with the final offer price coming in slightly below the maximum HK$1,010 indicated during last week’s bookbuilding process.
The offering is expected to be Hong Kong’s biggest share sale since Alibaba’s US$12.9 billion secondary listing in 2019, according to LSEG data. Across Asia, it ranks behind only Chinese memory chipmaker CXMT Corp’s US$8.6 billion Shanghai IPO this year, whose shares surged 466% on their debut earlier this week.
Zhongji Innolight produces optical transceivers, critical components that enable high-speed data transmission over fiber-optic networks. These products are widely used in AI infrastructure, cloud computing platforms, and large-scale data centers, making the company a key beneficiary of the global artificial intelligence boom.
The IPO comes as China accelerates efforts to strengthen its domestic AI and semiconductor ecosystem amid ongoing U.S. export restrictions on advanced chip technologies. It also reflects strong investor interest in Chinese technology companies seeking capital through Hong Kong’s active equity market, despite recent volatility in global AI and semiconductor stocks.
The company plans to use the IPO proceeds to expand research and development, strengthen its global manufacturing footprint, improve supply-chain capabilities, pursue strategic acquisitions, and support general corporate operations.
Financial results underscore the company’s rapid expansion. Zhongji Innolight reported first-quarter 2026 net profit of 6.32 billion yuan (US$934.1 million), nearly four times higher than the 1.69 billion yuan recorded a year earlier. Revenue also almost tripled to 19.5 billion yuan from 6.67 billion yuan, driven by rising demand from major customers investing heavily in AI infrastructure.
Despite being added to the U.S. Department of Defense’s list of "Chinese military companies" in June, Zhongji Innolight stated that the designation does not, by itself, prevent business with U.S. customers or restrict trading in its securities. The United States remained its largest market, accounting for 61.7% of first-quarter 2026 revenue. Shares are scheduled to begin trading in Hong Kong on July 30.
