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SK Hynix sold 177.9 million American depositary shares (ADRs) at $149 each, structured so U.S. investors can buy in at roughly a tenth of what a full share costs in Seoul. This deal, the largest-ever U.S. debut by a non-American company, topped Alibaba's $25 billion IPO in 2014. The company begins trading on the Nasdaq today, Friday, July 10, under the temporary ticker SKHYV. Regular trading opens Monday, July 13, when the ticker officially becomes SKHY. So far, U.S. investors are lapping it up. The stock opened at 14% over its IPO price, and the price was still rising in early trading on Friday. This even as it priced its U.S. shares at a 2.7% premium to its own three-day average back home in Seoul, according to its Korea Stock Exchange filing. Yet, demand for the offering was reportedly more than seven times the available shares, per media reports. That's especially amazing considering Korean companies have long traded at a discount to their global peers. That valuation gap is called the Korea Discount. Investors often cite factors such as complex corporate governance structures, low shareholder returns, regulatory uncertainty, and geopolitical risks related to North Korea to justify why companies from that country don't command higher share prices....
The story most people tell about knowledge distillation starts in 2015, with Geoffrey Hinton, Oriol Vinyals, and Jeff Dean introducing a clever softmax temperature trick and a phrase ' 'dark knowledge' ' that immediately lodged itself in the field's vocabulary. It is a good story. It is also incomplete by almost a decade. The real history is quieter, more pragmatic, and worth recovering, because the conceptual moves the field made between 2006 and 2015 still define how we think about distillation today. The vocabulary changed. The diagrams changed. The underlying question ' what exactly is being transferred from a teacher to a student' ' has not. To understand the modern landscape of on-policy distillation, reasoning distillation, and cross-architecture transfer, it helps to walk back through the three papers that built the foundation, and to notice that each one solved a different problem on its way to inventing the same idea....
'Lerna is an exceptional scholar and a proven leader. I am confident that she will guide the unit with thoughtfulness, wisdom, and a deep commitment to its continued success. I very much look forward to working with her in the years ahead,' says Agustin Rayo, the Kenan Sahin Dean of the School of Humanities, Arts, and Social Sciences. Ekmekcioglu, who joined the MIT faculty in 2011, is a historian of the modern Middle East, the Ottoman Empire, and Turkey, Armenian history, gender, feminism, genocide, and minority politics. She served as director of the Program in Women's and Gender Studies from 2022 to 2025, where she remains an affiliated faculty member. 'As I begin this new role, my first priority is to sustain and expand the remarkable momentum already underway in the unit. It is truly an exciting moment to be head of History,' says Ekmekciouglu. 'We have ambitious new initiatives, extraordinary faculty work, and ' this is not a small thing ' a group of colleagues who actually like and trust one another.'...
