SK Hynix launches $29 billion Nasdaq stock offering to fund AI memory chip demand

SK Hynix makes the high bandwidth memory that Nvidia's AI chips depend on, so this is less a startup story and more a bet that the entire AI buildout still has room to grow. A stock that is already up nearly 800 percent over the past year raising this much money is a stress test of how much more investors are willing to pay for exposure to AI infrastructure. If the offering lands well, it tells everyone else building AI hardware that the public markets are still hungry for this trade.