South Korea chip maker SK hynix rides AI boom raising $26.5bn in huge US listing

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South Korean chip maker SK hynix aims to raise $26.5 billion in one of the largest US stock listings, driven by increased demand from the global AI data center boom. The company plans to issue about 18 million shares on Nasdaq, capitalizing on the rise of artificial intelligence technology.

SK hynix, a supplier of advanced memory chips, has seen profits skyrocket thanks to the global race to build AI datacentres South Korean chip maker SK hynix set pricing for its mega US listing on Friday, aiming to raise $26.5bn as it takes advantage of the AI boom in what will be one of the world’s biggest ever stock sales. The Asian semiconductor giant plans to issue the equivalent of about 18m shares on Wall Street’s tech-heavy Nasdaq index later in the day. Continue reading...