South Korean memory chip maker SK Hynix is planning a US IPO, offering American depositary receipts that could raise around $28 billion. The company is benefiting from surging AI-driven demand for memory chips, with Q1 revenues up nearly 200% year-over-year and stock up 260% this year. A global shortage of HBM, DRAM, and NAND chips — dubbed 'RAMageddon' — has been caused by hyperscalers racing to build AI data centers. SK Hynix and Samsung have pledged over $550 billion in new manufacturing capacity, though analysts note the risk that supply could eventually outpace demand. Micron, the closest US peer, has surged nearly 700% over the past year to a $1 trillion valuation.
364 Impressions