AI News Brief: South Korean memory chip giant SK Hynix has announced plans for a US IPO, offering roughly 17.8 million shares. Based on Seoul’s closing price last Friday, the offering could raise up to approximately $28 billion. The company will use American Depositary Receipts (ADR), with each ADR representing one-tenth of an ordinary share. Pricing is expected this Thursday, with trading to begin Friday. SK Hynix’s listing comes amid a memory supercycle driven by explosive AI demand. The company’s Q1 revenue grew nearly 200% year-over-year, and its stock has surged roughly 260% year-to-date. The underlying driver is AI systems’ heavy reliance on memory — including HBM, DRAM, and NAND — as hyperscalers like Amazon, Microsoft, Google, and Oracle race to build out AI factories at scale. Supply simply can’t keep up with demand, a phenomenon the industry calls ‘RAMageddon’. Even Apple has said chip shortages forced it to raise prices on Macs and iPads.