- 22 hours ago
SK Hynix shares gained 13% in their Nasdaq debut after the AI memory-chip supplier raised $26.5 billion to fund new factories, equipment and advanced packaging capacity.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02SK Hynix shares rose 13% in their NASDAQ debut on Friday,
00:07closing at $168.01 after opening at $170, according to CNBC.
00:14The South Korean memory chip maker priced its American depository receipts at $149
00:20and raised $26.5 billion to fund new factories and equipment.
00:25SK Hynix, South Korea's second most valuable company behind Samsung,
00:30makes computer memory for phones and PCs and supplies customers, including NVIDIA and Apple.
00:36Chairman Chae Taewon said customers continue to request more capacity
00:40as AI infrastructure demand drives memory shortages and higher prices.
00:45The company plants a $4 billion advanced packaging plant in Indiana,
00:49while most expansion will occur in South Korea,
00:52including a $390 billion chip fabrication cluster in Yongin.
00:56For all things money, visit Benzinga.com.
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