Nvidia’s biggest RAM supplier just had a trillion-dollar debut on Wall Street

AI Summary

SK Hynix, a major RAM supplier, debuted on Wall Street with a $26.5 billion IPO reaching a $1 trillion valuation. The company is benefiting from the AI boom driving demand for memory chips critical for AI technology development.

SK Hynix CEO Kwak Noh-Jung. | Image: Michael Nagle/Bloomberg via Getty Images As the AI boom boosts demand for RAM, SK Hynix - one of the world's biggest suppliers of memory chips - launched on Wall Street Friday. The South Korean chipmaker opened at $170 per share and raised $26.5 billion, surpassing Alibaba's record as the largest debut of a foreign company, according to reports from Associated Press and CNN. After reaching a $1 trillion valuation in May, SK Hynix briefly overtook Samsung as South Korea's most valuable company. SK Hynix is one of three major companies benefitting from a surge in demand for DRAM and high-bandwidth memory (HBM). These components have become essential for the widespread buildout of AI … Read the full story at The Verge.