News Classic

Memecoins cashing on the popularity of pet squirrel and social media star ‘Peanut’ have become the new money-minting opportunities for cryptocurrency degens.

What happened: A token named PEANUT on the popular decentralized exchange (DEX) Uniswap UNI/USD jumped over 58% in the last 24 hours, with its market capitalization now around $2.2 million, as per CoinMarketCap.

A coin with a similar name was launched on Solana SOL/USD-based DEX Raydium, which was up a whopping 336% in the last 24 hours, though having a far lower market capitalization of $33,790.

It is worth noting that the liquidity of these tokens is very low because they are not traded on major cryptocurrency exchanges and are only available on DEXs as of this writing, making them vulnerable to extreme price swings.

See Also: Satoshi Nakamoto Identity Prediction Market Appears More Volatile Than Bitcoin: Sassaman Dethrones Peter Todd. 

Why It Matters: The death of the adorable creature has become the latest flashpoint ahead of the presidential elections. 

New York state officials confiscated and euthanized Peanut, along with a raccoon named Fred, triggering a wave of outrage from social media and influential figures.

Tech mogul and Republican supporter Elon Musk wrote, “President Donald Trump will save the squirrels,” along with a condolence message for the animal.

Nvidia Corp NVDA CEO Jensen Huang has requested SK Hynix Inc. HXSCF to expedite the supply of its next-generation high-bandwidth memory chips by six months.

What Happened: The request was made during a meeting between Huang and SK Group Chairman Chey Tae-won, reported Reuters on Monday. SK Hynix had previously announced its plan to provide the chips to clients in the second half of 2025, a timeline that was already ahead of the initial target.

The demand for high-capacity, energy-efficient chips for Nvidia’s graphic processing units, used in AI technology development, has been on the rise. Nvidia currently holds over 80% of the global AI chip market.

SK Hynix, a leading player in the global race to meet the surging demand for HBM chips, is facing intensified competition from companies like Samsung Electronics SSNLF and Micron Technology MU.

The company is also planning to supply the latest 12-layer HBM3E to an undisclosed customer this year and intends to ship samples of the more advanced 18-layer HBM3E early next year.

See Also: Jim Cramer Warns Apple Stock Should Have ‘Never Been Up That Much’ After Q3 Earnings Even As This Analyst Defends iPhone 16 Launch

Why It Matters: The demand for AI technology has been a significant driver of growth for SK Hynix. The company reported a record-breaking quarterly profit in October, with a 7% revenue surge, largely attributed to the rising demand for AI technology.

Despite Samsung’s soaring profits, its delays in Nvidia’s certification for AI memory chips have allowed competitors like SK Hynix and Micron Technology to take the lead in high-bandwidth memory.

SK Hynix’s commencement of mass production of their latest high-bandwidth memory chips in September positioned the company ahead in the competitive race to meet the growing demand driven by artificial intelligence advancements.

SK Hynix plans to invest $6.8 billion in a new production facility in South Korea, as part of a larger commitment to invest 120 trillion won in the construction of four fabs in the Yongin cluster.

Read Next:

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Taiwanese contract manufacturer Hon Hai Precision Industry Co. Ltd. HNHPF, widely known as Foxconn and a major Apple Inc. supplier, is set to expand its presence in Vietnam with an $80 million investment through its subsidiary, Shunsin.

What Happened: According to a document from Vietnam’s environment ministry, Shunsin aims to build a plant in Bac Giang province focused on producing integrated circuits, reported Reuters.

The facility is expected to begin full-scale operations by December 2026, targeting an annual output of 4.5 million units.

Foxconn did not immediately respond to Benzinga‘s request for comment.

The products from this plant will be exported primarily to the United States, the European Union, and Japan. This new investment follows Foxconn’s July approval to invest $383 million in another facility in Vietnam for printed circuit boards.

Since entering Vietnam in the early 2000s, Foxconn has invested over $3.2 billion, with most of its facilities located in northern provinces like Bac Ninh and Bac Giang. Shunsin has not yet commented on the development.

Read Next:

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

Popular cryptocurrency analyst Ali Martinez expressed bullish sentiments on Ethereum ETH/USD, citing an attractive risk-to-reward ratio.

What Happened: In an X post on Monday, Martinez stated his optimism toward the second-largest cryptocurrency, highlighting its potential for a long position. He revealed his strategy, setting his stop-loss below $1,880 and targeting a take-profit price of $6,000.

The risk-reward ratio is a way to evaluate the potential gains of a trade against the potential loss. In a highly volatile cryptocurrency market, this ratio helps traders decide whether a trade is worth pursuing.

As of this writing, the entry price of Ether was $2,460.54, meaning an initial risk of around $600. With Martinez hoping to take a profit at $6,000, the reward would be $3,540. The risk-reward ratio was thus roughly 1:6.

Taiwan Semiconductor Mfg. Co. Ltd. TSM is set to double its production capacity for advanced packaging, a move driven by the increasing demand for artificial intelligence chips from major players like Nvidia Corp. NVDA, Microsoft Corp MSFT, Amazon.com Inc. AMZN, and Alphabet Inc GOOGL GOOG.

What Happened: TSMC’s CoWoS (Chip-on-Wafer-on-Substrate) advanced packaging is experiencing a surge in demand, particularly from AI chip manufacturers and cloud service providers, reported CNA.

TSMC is expected to double its production capacity in 2025, with Nvidia projected to occupy over 50% of the capacity.

Despite TSMC’s efforts to ramp up production, the demand for advanced packaging continues to outstrip supply. The company plans to double its CoWoS production capacity by 2025, according to the report.

Notably, TSMC’s Arizona plant in the U.S. will collaborate with major packaging and testing company Amkor to expand the production of advanced packaging, in response to the increasing demand from AI and AI chip manufacturers.

See Also: Jim Cramer Warns Apple Stock Should Have ‘Never Been Up That Much’ After Q3 Earnings

Why It Matters: The decision by TSMC to double its CoWoS production capacity comes at a time when Nvidia is making significant strides in the AI sector, recently replacing Intel on the Dow Jones Industrial Average.

This shift underscores Nvidia’s growing influence and the increasing demand for AI technology.

Meanwhile, TSMC has faced challenges, such as disruptions caused by Typhoon Kong-rey, impacting its operations in Taiwan.

Additionally, TSMC’s advancements in 3-nanometer technology have been pivotal, as evidenced by Apple’s recent launch of the M4 Pro and M4 Max chips, further emphasizing the importance of TSMC’s role in the semiconductor industry.

Read Next:

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote