Chip titan SK hynix raises $26.5 bln in blockbuster US listing
South Korean chip giant SK hynix set pricing for its mega U.S. listing on July 10, raising $26.5 billion 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 issued the equivalent of around 18 million shares on Wall Street's tech-heavy Nasdaq index later in the day.
SK hynix, a supplier of advanced memory chips to industry behemoth Nvidia, has seen profits skyrocket thanks to the global race to build artificial intelligence data centres.
Tech stocks have tumbled in recent weeks on fears of overheated valuations, SK hynix has soared more than 220 percent this year in Seoul, and questions about when enormous global AI spending will reap returns.
