SK Hynix listed on Nasdaq. The stock jumped 13 percent. The chairman appeared on CNBC to declare that demand for his product is enormous. He said this about memory chips used in AI servers. Chips that every AI company needs to buy. Chips that have no substitute. Chips that Nvidia and Apple are already ordering by the truckload.
Stunning revelation.
The company hit a trillion-dollar market cap. Retail traders saw the debut and thought they discovered alpha. They did not discover alpha. They discovered a South Korean semiconductor manufacturer that has been supplying the tech industry since 1983. It's been Nvidia's memory supplier for years. But sure, the Nasdaq listing is what made it real.
The chairman told CNBC the demand is enormous. He could have said the demand is moderate. He could have said the demand is plateauing. He could have told Jim Cramer to f*ck off. Instead he went on financial television to announce that the companies buying his chips would like to continue buying his chips. Hard-hitting stuff.
Some guy in Wisconsin just moved his entire Roth IRA into SK Hynix because the chairman used the word enormous. He's now texting his brother-in-law about semiconductors. He pronounces it semi-conductors. He thinks Korea is one country. He will check the stock price 40 times today and feel like a genius because the line went up. Tomorrow the line will go down and he'll blame Jerome Powell.
The stock closed higher. The chairman flew back to Seoul. CNBC played the clip six more times. Demand remains enormous, which is another way of saying business continues as usual.
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