Technology News: Read Technology news & latest Tech updates today

Big tech stocks saw significant selling by hedge funds. Some investors bought dips in these companies. Financial sector exchange-traded funds experienced strong buying interest. This activity occurred just before the highly anticipated initial public offering of Elon Musk's SpaceX. SpaceX's listing aimed for a massive valuation, potentially becoming a top U.S. company by market value.

SK Hynix, a leading memory chip maker, plans a US listing on Nasdaq as early as August. This move aims to boost its global investor profile and shareholder base. The company's strong performance, driven by AI demand, makes Nasdaq an attractive choice. Analysts believe Nasdaq's tech focus and passive fund flows will benefit SK Hynix.

E-commerce giant Meesho is set to acquire Kirana Club for Rs 202 crore in a cash deal, aiming to bolster its reach within India's vast kirana and small retailer network. This strategic move, approved by Meesho's board, will see the acquisition of Kirana Club's Singapore entity and its Indian subsidiary, Retail Pulse Labs.

In China, the initial public offering was ​watched as a benchmark for a younger industry eager to go public. But the frenzy masks a fundamental gap, with firms going public ahead of meaningful revenue and without the proven technology that underpins SpaceX's economics, a mismatch analysts say will cap valuations.

Domestic benchmarks Nifty 50 and Sensex are down about 11% and 13% so far in 2026, respectively, after fears of AI-led disruption tanked the heavyweight IT index 27% and the ‌crude price spike ⁠after the ⁠Iran war worsened the macroeconomic outlook.

Letters to both companies seen by Reuters on Thursday raise concerns about the impact Elon Musk's rocket and satellite communications company could have on other investors through its record-breaking $75 billion debut.

Durn will take charge ‌at Marvell ⁠starting ⁠June 15, while Meintjes will remain with the ​semiconductor company in an advisory role through April 2027 ​to support the transition.

The National Ready-Mixed ‌Concrete Transport ⁠Workers' ⁠Union suspended deliveries in the Seoul metropolitan area starting on Monday, ​a work stoppage it said would involve around 8,000 members ​as it demanded higher rates and other changes. The National Ready-Mixed ‌Concrete Transport ⁠Workers' ⁠Union suspended deliveries in the Seoul metropolitan area starting on Monday, ​a work stoppage it said would involve around 8,000 members ​as it demanded higher rates and other changes.

PeopleSoft ​is an enterprise resource planning suite used by organizations to manage ​core business functions including human resources, finance and supply-chain operations.

Both companies are challenging Local Law 52 of ‌2026, which ⁠generally prevents ⁠large ride-sharing companies from swiftly dismissing drivers absent a "bona fide economic reason" or "just cause."