SK Hynix's shares surge 14% in blockbuster US market debut amid AI frenzy
New Delhi, July 10 -- SK Hynix's U.S.-listed shares jumped 14% in their Nasdaq debut following its $26.5 billion share sale, in a sign of resilient investor enthusiasm for semiconductor stocks that have recently pulled back after a dizzying rally.
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.
Chip stocks have lost some momentum in recent weeks after a stellar run, partly due to investor concerns about slower AI spending. SK Hynix shares have dropped a quarter from their record high hit two weeks ago. Even so, the company's stock is about 630% higher than a year ago.
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