Talk about K-power. South Korea’s SK Hynix Inc. has raised $26.5 billion from the US stock market, the biggest first-time share sale by a foreign company. The question now is whether the trillion-dollar firm can satisfy competing demands from exacting stakeholders.
Investor enthusiasm stems from the fact that SK Hynix has morphed into a golden goose. It’s the world’s second-largest supplier of dynamic random-access memory chips, or DRAM, and the biggest when it comes to the high-bandwidth ones that are paired with Nvidia Corp.’s graphics processing units. Seeing a supply shortage that may persist until 2027, analysts estimate that the company can generate more than $300 billion free cash flow this year and next.
