What will SK Hynix do with the $26.5 billion it raised?
Per its filing, SK Hynix plans to fund a new fabrication facility, a new packaging facility, and extreme ultraviolet (EUV) lithography scanners — all in South Korea. That's notable given US officials, including Commerce Secretary Howard Lutnick, have been pushing SK Hynix and Samsung to build memory-chip factories on American soil instead.
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SK Hynix Just Pulled Off the Biggest Foreign IPO in US HistorySK Hynix raised $26.5 billion in a Nasdaq debut that beat Alibaba's IPO record, riding the AI memory-chip boom to a 13% first-day pop.
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