The South Korean semiconductor company SK Hynix is planning its IPO in the USA in August. The news agency Reuters reported this on Wednesday, citing two people familiar with the matter. With this step, SK Hynix wants to benefit from the strong demand for AI-related stocks and broaden its investor base.
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According to the Reuters report, the US Securities and Exchange Commission (SEC) is expected to approve SK Hynix’s application in the week after next.
The details of the listing, including scope and timing, have not yet been decided, SK Hynix said in a statement to Reuters. The chip manufacturer announced in March that it had confidentially submitted an application for a stock exchange listing in the USA. At the time it was said that the IPO could reach a volume of up to $14 billion.
SK Hynix is the world’s second largest manufacturer of memory chips and an important supplier to the US group Nvidia. Thanks to its dominant position in high-performance memory chips (High Bandwidth Memory (HBM)) used in AI servers, the South Korean company has benefited greatly from the AI boom and memory crisis.
With a stock market debut in August, SK Hynix would join the phalanx of spectacular IPOs expected on the US stock markets in the second half of the year. The record IPO of Elon Musk’s space company SpaceX, planned for the end of this week, is expected to bring in $75 billion. Meanwhile, the two AI companies Anthropic and OpenAI are in a race to go public. Claude developer Anthropic confidentially submitted an application for an IPO in the USA on June 1st, surprisingly beating its competitor OpenAI. The ChatGPT developer applied for a share placement just a few days later – but details remain secret.
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