SK Hynix's $28 billion US share sale draws more than seven times demand: Reports

SK Hynix's $28 billion US share sale was oversubscribed by more than seven times, making it set to become the world's second-largest share offering after SpaceX's $85.7 billion IPO. The Korean memory chipmaker is raising funds to build new factories and equipment to meet surging AI chip demand, and shares rose about 6% in morning trade. SK Hynix, the leading supplier of high-bandwidth memory chips to Nvidia, remains up around 680% over the past 12 months despite a recent 25% correction.