US investors will soon get access to SK Hynix, another memory maker riding the AI boom
SK Hynix is experiencing a boom credited to AI. It will ride that to a multibillion-dollar U. IPO, expected to take place on Friday.
Key Takeaways
- South Korean memory chipmaker SK Hynix, rival to Samsung and U.
- investors buy a foreign stock without trading directly on an overseas exchange.
- This is because systems that run AI are very memory intensive.
- South Korean tech companies, led by SK Hynix and Samsung, have vowed to spend over $550 billion on building out new manufacturing capacity to keep up.
- Join 1,000+ founders and VCs at all stages for real-world scaling insights and connections that move the needle.
Stats & Key Facts
- #Should its shares sell well (and there's indication that they will), the company could raise around $28 billion, based on SK Hynix's closing share price last Friday in Seoul, Bloomberg reports .
- #Its first-quarter revenues were up nearly 200% over the same quarter last year, it said, and its stock is up about 260% so far this year.
- #South Korean tech companies, led by SK Hynix and Samsung, have vowed to spend over $550 billion on building out new manufacturing capacity to keep up.
- #comparison, has shot up nearly 700% over the past year to a more than $1 trillion valuation, fueled by record AI-driven memory demand and revenue.
Should its shares sell well (and there's indication that they will), the company could raise around $28 billion, based on SK Hynix's closing share price last Friday in Seoul, Bloomberg reports . SK Hynix will be offering American depositary receipts (ADRs), a type of certificate that lets U. investors buy a foreign stock without trading directly on an overseas exchange.
Each ADR will represent a tenth of a common share. It is expected to price those securities on Thursday and begin trading on Friday. Like Micron, SK Hynix is riding an AI-fueled boom credited to AI in both sales and stock price.
Its first-quarter revenues were up nearly 200% over the same quarter last year, it said, and its stock is up about 260% so far this year. This is because systems that run AI are very memory intensive. As hyperscalers like Amazon, Microsoft, Google, and Oracle race to build out so-called AI factories, and as new AI data centers multiply nationwide, demand has outpaced supply, creating a shortage of memory chips - including high-bandwidth memory (HBM), DRAM, and NAND (the different types of chips that store and move data inside AI systems).
For more details please read the original article at TechCrunch AI.
Continue Learning
Comments
Sign in to join the conversation