South Korean chipmaker set for marquee U.S. trading debut in test for AI appetite

The U.S. trading debut Friday of South Korean chipmaker SK Hynix following a $26.5 billion share sale will be a key test of investors’ belief in the durability of the AI boom.

The U.S. trading debut Friday of South Korean chipmaker SK Hynix following a $26.5 billion share sale will be a key test of investors’ belief in the durability of the AI boom, coming after a recent pullback in semiconductor stocks.

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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 650% higher than a year ago.

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.