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The Economic Times
The Economic Times
Akash Podishetti

SK Hynix makes US debut today. Will investors sell Micron to buy the AI memory leader?

SK Hynix Micron Hynix United States Memory Nasdaq Semiconductor

SK Hynix will begin trading in the US on Friday after a $26.5 billion share sale, giving American investors direct access to one of the biggest winners of the artificial intelligence boom. The listing comes at a tricky time for chip stocks. Semiconductor shares have pulled back in recent weeks after a sharp rally, as investors question whether AI spending can keep rising at the same pace.

SK Hynix itself has fallen about 25% from a record high hit two weeks ago, though the stock is still up 650% over the past year. The South Korean chipmaker sold American Depositary Receipts at $149 each. The price was at a 2.7% premium to its average share price over the past three trading days. Ten ADRs equal one common share. SK Hynix shares rose 2.2% in Seoul on Friday to 2.233 million won.

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