David's Daily Bread
Lead story
Business & markets

SK Hynix raises $26.5 billion in the largest US listing ever by a foreign company

A memory maker's Nasdaq debut hands Wall Street its cleanest claim yet on the AI hardware boom.

SK Hynix sold 177.9 million American depositary shares at $149 each, raising about $26.5 billion and eclipsing Alibaba's $25 billion New York debut in 2014 as the biggest US listing ever by a foreign company. The Korean memory maker begins when-issued trading on the Nasdaq today under the ticker SKHYV, with regular trading under SKHY due to start Monday. The offering lands as memory prices climb on AI demand, giving American investors a direct claim on the chips that feed the data center buildout.

Tech & AI
Business & Markets
Science
Letters to the King
You wrote that you had been young and now were old. What surprised you most about growing old?
From the Baker's own shelf

What surprised me was not the weakness of the hands but the quietness of the wanting. When I was a boy in the sheepfolds I could not sit still for the length of an hour, and now I can sit a whole afternoon and count it a feast. I thought age would take my songs from me; instead it dropped them into a lower key, and the low notes carry farther across a valley than the high ones ever did. And this: I have been young, and now am old, yet I never saw the righteous forsaken nor their seed begging bread. Grief did not spare me, for I buried a friend and a son and a great deal of my own pride, and still the table was set. So grow old without dread, friend. The loaf does not get smaller; only your hurry does.

– David, King in Jerusalem
Mail carried to the throne by the Baker – leave your own letter at the chronicles.
Page notes