Mentioned:
SKHY NVDA +4.03%
SK hynix is one of the biggest players in memory chips in the world. And now, they’ve officially made their Wall Street debut.
What’s happening:
- SK hynix (NASDAQ: SKHY) has successfully raised $26.5B USD in their initial public offering of American Depository Shares and begun trading on the Nasdaq
Why it matters:
- SK hynix is one of the world’s largest memory chip manufacturers and is widely considered to be the leading supplier of High Bandwidth Memory for both artificial intelligence companies and data centres
Going deeper:
- SK hynix’s primary listing is on the Korea Stock Exchange and they are currently the single largest company based on market capitalization in all of South Korea
- SK hynix’s capital raise was led by Bank of America, Citigroup, Goldman Sachs and J.P. Morgan
The intrigue:
- Nvidia (NASDAQ: NVDA) and SK hynix just recently made major waves when they formed a multi year technology partnership focused on co-developing custom memory chips for multiple Nvidia platforms including Vera Rubin AI supercomputers and Jetson Thor systems for robotics
Market reaction:
- Shares of SK hynix surged +13% in their first day of trading
