After SpaceX, the Korean giant that surpassed Samsung prepares a mega stock market debut of US$ 29.4 billion
SK Hynix, a key supplier to Nvidia, is looking to attract investors on Nasdaq after becoming the most valuable company in its country and gaining ground in the global race for AI chips.
SK Hynix, South Korea’s memory chip maker, announced it plans to raise up to US$ 29.4 billion through a stock offering in the United States. According to Reuters, the company, a key supplier to Nvidia, wants to take advantage of strong investor interest in stocks tied to artificial intelligence.
If completed at the indicated price, the deal would be the second-largest stock sale worldwide. It would only be behind SpaceX’s record initial public offering, which reached US$ 85.7 billion earlier this month, and it would also surpass Saudi Aramco’s US$ 25.6 billion listing in 2019, as well as Alibaba’s, which posted a similar figure in 2014.
The transaction would also come before the stock listings planned later this year for AI-focused companies such as Anthropic and OpenAI.
Jumping to Nasdaq and seeking U.S. investors
By listing on Nasdaq, SK Hynix could be valued using the same criteria as Micron, its U.S. rival. For the Korean company, that would open the door to a more favorable valuation on Wall Street. Its presence in the U.S. market could also affect the shares it has listed in Korea.
$SAMSUNG $SPCXB
SK Hynix, a key supplier to Nvidia, is looking to attract investors on Nasdaq after becoming the most valuable company in its country and gaining ground in the global race for AI chips.
SK Hynix, South Korea’s memory chip maker, announced it plans to raise up to US$ 29.4 billion through a stock offering in the United States. According to Reuters, the company, a key supplier to Nvidia, wants to take advantage of strong investor interest in stocks tied to artificial intelligence.
If completed at the indicated price, the deal would be the second-largest stock sale worldwide. It would only be behind SpaceX’s record initial public offering, which reached US$ 85.7 billion earlier this month, and it would also surpass Saudi Aramco’s US$ 25.6 billion listing in 2019, as well as Alibaba’s, which posted a similar figure in 2014.
The transaction would also come before the stock listings planned later this year for AI-focused companies such as Anthropic and OpenAI.
Jumping to Nasdaq and seeking U.S. investors
By listing on Nasdaq, SK Hynix could be valued using the same criteria as Micron, its U.S. rival. For the Korean company, that would open the door to a more favorable valuation on Wall Street. Its presence in the U.S. market could also affect the shares it has listed in Korea.
$SAMSUNG $SPCXB