Two blockbuster AI IPO’s on the horizon could leave crypto further behind
A wave of blockbuster AI listings is drawing billions of dollars from global investors, reinforcing a rotation away from crypto.
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Summary
- SK Hynix’s roughly $24.5 billion U.S. listing is more than seven times oversubscribed, while China’s CXMT is launching a $4.3 billion Shanghai IPO days later.
- The back to back AI mega deals follow SpaceX and Cerebras, highlighting how capital continues to flow into AI infrastructure, running other corners of the financial market, including crypto, dry.
