On the first day of listing, storage giant SK Hynix surged
On July 10, Eastern Time, the three major U.S. stock indexes continued to strengthen. As of the close, the Dow rose 0.29%, the Nasdaq rose 0.29%, and the S&P 500 rose 0.42%. SK Hynix, the global leader in HBM storage, rose more than 12% on its first day of listing on the US stock market, with a total market value of US$1.22 trillion.
On July 10, Eastern Time, the three major U.S. stock indexes continued to strengthen. As of the close, the Dow rose 0.29%, the Nasdaq rose 0.29%, and the S&P 500 rose 0.42%. SK Hynix, the global leader in HBM storage, rose more than 12% on its first day of listing on the US stock market, with a total market value of US$1.22 trillion. SK Hynix raised US$26.5 billion this time, surpassing Alibaba's US$21.8 billion issuance in 2014, setting a new record for foreign companies' IPOs in the United States, and trailing only SpaceX's US$75 billion financing last month, ranking the second largest stock issuance in US history. However, the shares sold this time account for less than 3% of SK Hynix’s total market value, and the circulation is relatively limited. SK Hynix is the world's largest manufacturer of HBM chips. These chips are key components for large-scale data processing in the AI graphics processors (GPUs) of companies such as Nvidia and AMD. The explosive growth in AI infrastructure spending has pushed the supply of HBM chips to exceed demand and caused prices to rise sharply, making the memory chip manufacturer one of the hottest investment targets on Wall Street. In terms of U.S. inflation, on July 10, Eastern Time, the Federal Reserve’s official website released its semi-annual monetary policy report, which warned that U.S. inflation will rise further this spring. It also reiterated its commitment to maintaining price stability and made it clear that it will use all available tools to achieve its dual mission goals. The report shows that the impact of U.S. tariff policies continues to ferment, conflicts in the Middle East push up energy prices, and AI infrastructure construction drives a surge in demand, which together push up U.S. inflation pressure. The report pointed out that the Fed's preferred personal consumption expenditures (PCE) price index was still about twice the 2% target as of May this year. Goldman Sachs economist Megan Peters calculated in the latest report that the triple effects of AI-driven memory price surges, software price increases, and electricity price increases have now increased the U.S. core PCE year-on-year inflation rate by more than 0.2 percentage points, and this contribution is expected to rise to 0.5 percentage points by the end of the year. (