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Highflying hedge fund run by former OpenAI researcher will be cornerstone investor in SK Hynix U.S. listing

By Steve GoldsteinThree major tech sector investors will collectively buy up to $7 billion of SK Hynix's U.S. offering.Three major investors in the technology sector will back SK Hynix's offering of American depository receipts that is expected this week.Baillie Gifford, Coatue Management and Situa…

By Steve Goldstein

Three major tech sector investors will collectively buy up to $7 billion of SK Hynix's U.S. offering.

Three major investors in the technology sector will back SK Hynix's offering of American depository receipts that is expected this week.

Baillie Gifford, Coatue Management and Situational Awareness have collectively indicated they'll buy up to $7 billion worth of SK Hynix ADRs (SKHY) when they are listed, according to a Securities and Exchange Commission filing on Monday.

Situational Awareness is led by former OpenAI researcher Leopold Aschenbrenner and has been known for making well-timed artificial intelligence-related investments. Baillie Gifford and Coatue Management also are known for their investing in the tech sector.

SK Hynix (KR:000660) fell 3% in Seoul trade on Monday, but the shares have surged 765% over the last 12 months.

-Steve Goldstein

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