SK Hynix's $29 billion Nasdaq listing this week will test investor appetite for AI stocks
By
Jim Edwards
Summary
South Korean chipmaker SK Hynix is launching a $29 billion stock offering on the Nasdaq this week, in what could be the largest-ever first-time share sale by a foreign company. The listing will test investor appetite for AI-related stocks, as SK Hynix's Korea-listed shares have surged 770% over the past 12 months driven by the AI boom. The offering is expected to begin trading on Friday.
Source
bskySK Hynix's $29 billion Nasdaq listing this week will test investor appetite for AI stocksfortune.comKey quotes
· 3 pulledSK Hynix isn't one of the Magnificent 7 stocks but is in a class of its own after pulling off a stunning rally on the back of the AI boom
The offering will be a crucial test of investors' desire to keep funding the AI boom
Shares will list on the Nasdaq and are expected to start trading on Friday, raising about $29 billion in what could be the biggest-ever first-time share sale by a foreign company
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