CoinDesk·3 min read·medium
Two blockbuster AI IPO's on the horizon could leave crypto further behind
J
James Van Straten
✦AI Summary
Major semiconductor companies SK Hynix and Changxin Memory Technologies are preparing for massive IPOs to fund AI infrastructure development. This influx of capital into AI-related hardware is increasingly competing with the cryptocurrency market for investor liquidity.
This trend continues as SK Hynix (000660) gears for its blockbuster IPO on July 10. The South Korean memory chip giant is raising about $24.5 billion to $28 billion through the sale of 177.9 million American depositary receipts, a deal that has reportedly been more than seven times oversubscribed, according to Bloomberg .
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