CNBC's Jim Cramer said SK Hynix looks remarkably cheap, but warned that buying it is a bet that the AI-driven memory boom won't end like previous cycles.

SK Hynix is experiencing a boom credited to AI. It will ride that to a multibillion-dollar U.S. IPO, expected to take place on Friday.

SK Hynix's $28 billion Nasdaq ADR offering was heavily oversubscribed, with books closing early as investors chase AI memory chip exposure amid HBM

SK Hynix's U.S. debut tests investor belief in the AI boom's durability. The South Korean chipmaker's offering is the second-largest share sale in the United States. This move…