SK Hynix Just Raised $26.5 Billion in the Biggest U.S. IPO Ever by a Foreign Company. Here's What It Signals for the AI Memory Boom.
Here's what a record-breaking share sale says about demand for the chips powering AI.
Overview
The biggest U.S. initial public offering (IPO) ever by a foreign company belongs to a memory-chip maker. South Korea's SK Hynix (FRA: HY9H) priced 177.9 million American depositary shares at $149 apiece late Thursday, raising about $26.5 billion. That tops the $25 billion Alibaba raised in its 2014 debut, and it trails only SpaceX's June listing among U.S. IPOs of any kind.
The shares began trading on the Nasdaq on a when-issued basis Friday and closed at $168.01, up 12.8% from the offer price, with regular trading under the SKHY ticker set to start Monday.
Details
A listing this size would be notable in any market. But what makes this one worth studying is what it says about demand for AI (artificial intelligence) memory. The world's biggest investors wanted far more of this company than they could get.
Source
Originally published at www.fool.com.
Related Articles
- Advanced Micro Devices vs. Texas Instruments: Which Technology Stock Is a Better Buy in 2026?
- Mark Zuckerberg Is Turning Meta Into a Bigger Chipmaker. Its Newest In-House AI Chip Enters Production in September.
- Private Credit Is Coming to 401(k) Plans. These Are the Alternative Asset Managers Set to Cash In.