South Korea's SK Hynix lists on Nasdaq in $26.5B IPO
Business
South Korea's SK Hynix, the world's top maker of high-speed memory chips for AI (think NVIDIA and AMD), just landed on the Nasdaq with a $26.5 billion IPO.
Now, US investors can get in on the action as AI demand keeps driving interest in chipmakers.
SK Hynix shares priced at $149
SK Hynix priced its shares at $149 each, even after a wild 650% stock surge over the past year (though prices have dipped 25% from recent highs).
The company now faces off directly with US rival Micron, and analysts see room for its value to grow.
With AI spending expected to hit $1.5 trillion by 2027, SK Hynix is betting big, but it'll have to watch out for market ups and downs along the way.