Shares of technology companies rose after a strong debut for one artificial-intelligence star.
SK Hynix American depositary receipts rose by 13% on their U.S. stock market debut. After the market closed Thursday, the South Korean memory chip maker priced its ADR sale at $149 apiece, raising $26.5 billion, the latest jumbo-sized AI-related deal following offerings from SpaceX and Cerebras. The share sale was the largest ever by a non U.S. company.
Meta Platforms added to recent gains as investors digested the Facebook owner's plans to rent out its surplus computing power and to start manufacturing its in-house AI chip through a partnership with Broadcom.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
