Hedge fund Situational Awareness, founded by former OpenAI researcher Leopold Aschenbrenner, is among a group of investors signalling interest in SK Hynix’s planned $28bn Nasdaq listing, according to a FT report.
The fund, alongside investment firms Baillie Gifford and Coatue, has indicated it could acquire a significant portion of the American depositary shares (ADS) on offer, with the three investors together potentially taking up to $7bn of the deal.
The secondary US listing comes as demand for AI infrastructure continues to drive strong growth across the semiconductor sector. SK Hynix plans to use the proceeds to expand manufacturing capacity, including investment in fabrication plants and advanced lithography equipment, as it seeks to meet rising demand for high-bandwidth memory (HBM) chips.
The company has emerged as a key supplier of HBM to Nvidia, helping fuel a sharp rise in its valuation over the past year. The ADS are expected to begin trading on Nasdaq later this week, with the offering led by Bank of America, JPMorgan, Goldman Sachs and Citigroup.
