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SK Hynix hits the U.S. stock market as demand for memory chips soars amid AI frenzy
Investor demand topped 7 times the shares on offer as the chipmaker tapped U.S. markets to fund new factories and equipment.
- South Korean tech giant Hynix made its United States trading debut on the Nasdaq, raising roughly $26.5 billion by selling American depositary shares at $149 each.
- Driven by euphoria surrounding artificial-intelligence technology, Hynix's stock has surged 634% over the last year, creating real profits through surging demand for computer memory.
- The Dow Jones Industrial Average rose 0.2% as the 10-year Treasury yield held steady at 4.55%, where it was late Thursday.
- Geopolitical tensions escalated after President Donald Trump stated the "Cease Fire is OVER" following unclaimed airstrikes in Iran, raising concerns about potential blockages in the Strait of Hormuz.
- Next week will feature critical earnings reports from Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Wells Fargo on Tuesday, testing market expectations for profit growth.
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The deposit certificates of the South Korean chip manufacturer are traded at the technology exchange Nasdaq well above the issue price.
·Zürich, Switzerland
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Stocks and oil prices drift, while South Korean AI darling SK Hynix leaps in its Wall Street debut
U.S. stocks and oil prices are drifting toward a quiet finish of the week. The S&P 500 was virtually unchanged in midday trading Friday and on track to close out its fourth winning week in the last five. The Dow…
Coverage Details
Total News Sources150
Leaning Left23Leaning Right19Center54Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 24%
C 56%
R 20%
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