SK Hynix proposes $28B share sale as AI demand booms
Business
SK Hynix, the Korean chip giant known for supplying NVIDIA, just proposed a $28 billion share sale that saw demand exceed the offering by more than seven times.
All this excitement comes as the company gears up to expand its factories and upgrade tech to meet booming demand for AI chips.
SK Hynix shares up nearly 6%
Investor hype sent SK Hynix's stock up nearly 6% on Thursday morning. This sale is set to be the world's second biggest, right after SpaceX's record IPO.
Even with some ups and downs in the chip market, SK Hynix has been on fire lately, with shares jumping about 680% in a year thanks to its key role powering AI data centers.