SK Hynix Begins Placing Shares on US Stock Exchange

SK Hynix is preparing one of the largest deals on the US stock market. The company is capitalizing on increased demand for memory chips required for artificial intelligence and is seeking to expand its investor base.

The South Korean chip manufacturer plans to place shares worth $28 billion on Nasdaq. Major investment funds are already considering purchasing securities worth up to $7 billion. In scale, the deal is second only to SpaceX's latest placement.

SK Hynix is one of the leading manufacturers of high-bandwidth memory chips, or HBM. These types of chips are used in artificial intelligence systems, and the company's clients include Nvidia and Google. Against the backdrop of this demand, SK Hynix's share price has increased by 260% this year.

The placement on the US market will give the company access to more international investors. The funds raised will be used by SK Hynix for the construction of new facilities in South Korea and the purchase of the latest equipment from ASML.

This plan is also connected to South Korea's broader strategy, which involves investing $576 billion in the semiconductor industry. The company's leadership will meet with global investors this week, while trading of the shares is set to begin on Friday.

Source: Investing.com