Ex-OpenAI Hedge Fund Bets Big on SK Hynix Nasdaq IPO Amid AI Chip Boom
An ex-OpenAI researcher’s hedge fund, Situational Awareness, and UK investor Baillie Gifford signal they could take up to $7bn of SK Hynix’s ADS in its $28bn Nasdaq IPO, as AI-driven demand for memory chips fuels expansion. SK Hynix plans to use the proceeds toboost fabrication capacity and acquire EUV scanners, with underwriters led by Bank of America, JPMorgan, Goldman Sachs and Citi; the pricing will be set around the Kospi price (~$158 per ADS). If fully subscribed, the NY listing would rank among the largest Asian listings in the US.