South Korean chip maker SK hynix has set pricing for its Nasdaq listing, aiming to raise $26.5 billion by issuing American depositary shares. The offering capitalizes on the surge in demand for AI-related chips.
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Asia-Pacific markets broadly rose in afternoon trade Friday, reversing earlier losses as investors shifted focus away from technology stocks. South Korea's Kospi saw a significant advance.
U.S. stock futures turned negative on Thursday, erasing earlier gains as investors anticipated the release of the June jobs report. The market also reacted to a significant drop in the semiconductor sector.
Meta Platforms' reported exploration into a cloud infrastructure business offering AI computing power and models led to significant stock drops for major AI infrastructure and semiconductor companies on Wednesday.
Intel Corporation's stock has seen significant gains this year, driven by optimism surrounding artificial intelligence and the company's early-stage work in quantum computing, which aligns with recent U.S. government initiatives.
AMD anticipates that DDR5 memory prices will not normalize until 2028, citing the significant demand from the artificial intelligence sector that is currently impacting consumer supply.