The ringing of the bell was the starting signal for a stock market chase that was only supposed to last one day. SK Hynix, a South Korean chip manufacturer that has been highly valued (in terms of stock price) since the distribution battle for DRAM, especially HBM, for artificial intelligence, debuted on the US stock exchange in New York on Friday. SK Hynix CEO Kwak Noh-jung prophesied to the press that the memory crisis had not yet reached its peak. However, this did not remarkably boost the trading of SK Hynix shares; the stock closed with a small loss in price at the end of the day.
Some great expectations must have been placed on the US IPO of the company, which until now was only listed on the South Korean stock exchange. As late as the end of June, SK Hynix had ousted Samsung from the throne of the most valuable publicly traded company. The chip manufacturer had temporarily reached a market capitalization of the equivalent of almost 1.19 trillion euros – slightly above the value of competitor Samsung Electronics, which had led the ranking of the country’s most valuable companies since the turn of the millennium. Background: The massive competition from AI manufacturers for the scarce supply in the market for DRAM and flash memory chips. Since the all-time high in market capitalization, there has been a slight decline.
