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Korean chip giant SK hynix is eyeing a US listing of its shares by August, according to a Reuters report.
The memory chip maker could receive approval from the US Securities and Exchange Commission (SEC) for its American Depository Receipt (ADR) listing application during the week of June 22, the report said, citing two sources who didn't want to be named. The company had confidentially filed for a US listing in March. The company said it plans to list in 2026, riding on the AI boom as shares linked to AI and semiconductor companies soar to record highs. SK hynix is a dominant player in the critical high-bandwidth memory chips market that is used in AI servers to train large language models (LLMs) along with GPUs and TPUs. It boasts a marquee clientele including Nvidia, the world's largest chip designer. The company shares have been on a tear with a sharp 240 per cent rise this year on the back of the AI boom and demand for high-end memory chips. The company recently entered the trillion-dollar valuation club along with Samsung and American chip company Micron. Investors are getting ready for a raft of public market debuts of AI companies, including SpaceX, Anthropic and OpenAI. Elon Musk-owned SpaceX is preparing for its shares to be listed this week, while Anthropic and OpenAI have confidentially filed for an IPO. Anthropic, in the latest funding round, was valued at USD 965 billion, indicating how huge the appetite is among investors for AI companies. The recent boom in AI shares has brought attention to the massive compute demand that is going to rise manifold in the coming years. Hyperscalers like Amazon's AWS and Alphabet have announced massive fundraising plans as they rapidly expand their AI capex plans. The massive AI buildout is likely to run into trillions of dollars as infrastructure and data centres take centre stage. On his recent trip to South Korea, Nvidia CEO Jensen Huang announced a partnership with the SK Group. The chip designer will secure a supply of advanced memory chips as it ventures into robotics and personal AI supercomputers. (ANI)
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