NewInvesting··11 min
SK Hynix Just Raised $26.5 Billion. The Thing It Sells Is the Real AI Bottleneck.
SK Hynix's Nasdaq debut was the largest US listing ever by a foreign company. It controls roughly 60% of high-bandwidth memory, which is the actual constraint on AI compute. The harder question is whether memory has really stopped being a cyclical business, and I don't think it has.
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