Hynix set for marquee US debut in test for AI appetite

Hynix is set for a marquee US debut after SK Hynix completed a $26.5 billion share sale, with its trading debut on Friday framed as a test of investor confidence in the durability of the AI boom. The Reuters report notes that semiconductor stocks have cooled after a strong run due to worries that AI spending could slow; SK Hynix shares were down about a quarter from their record high reached two weeks earlier, though they remain 650% higher than a year ago. In Seoul on Friday, shares rose 2.2% to 2.233 million won ($1,479.98) after selling American Depositary Receipts at $149 each, a 2.7% premium over the prior three-day average, with ten ADRs equal one common share. The offering, the second-largest US share sale after SpaceX’s record IPO last month, will fund new factories and gives direct access to the Nasdaq investor base. Hynix is the world’s largest maker of high-bandwidth memory (HBM) chips, which are essential to GPUs from Nvidia and AMD, and analysts expect its listing to help close a valuation gap with competitor Micron.