SK Hynix set for marquee US debut in test for AI appetite

The South Korean chipmaker is the latest to ride a frenzy of ​investor interest in firms perceived as reaping big gains from the AI revolution that has spawned hundreds of billions of dollars in capital spending.

"Global semiconductors ​is the most crowded trade in the world right now," said Thomas Hayes, chairman at Great Hill Capital in New York.

"The ⁠bankers and the issuer, in this case SK Hynix, are meeting demand where it is. They're seeing excessive valuations, and they want to take advantage of it."
SK ​Hynix shares rose 2.2% to 2.233 million won ($1,479.98) in Seoul on Friday after it sold American Depositary Receipts at $149 apiece, a 2.7% premium over its average share price ​in the last three trading days. Ten ADRs are equivalent to one common share.