Christopher Phenix Collins

Christopher Collins SK Hynix, the South Korean memory-chip maker, began trading on the Nasdaq on Friday after raising $26.5 billion in the largest ever share sale completed by a foreign company in the U.S. Shares opened 14% above their offering price as American investors rushed to purchase stakes in a firm at the heart of the global AI memory supercycle. The potential upside was huge, but it's already evaporating.

Christopher Collins About the authors: Christopher Collins is a fellow with the Polycrisis Program at the Cascade Institute at Royal Roads University. Mike O'Sullivan is author of The Levelling—What's Next After Globalization?. Europe has effectively been at war since 2022. Russia's drones are still flying over European airports, its ships continue to sabotage critical undersea cables, and its cyberattacks across the continent are surging. Europe still isn't ready to fight back.