长鑫科技 (688825.SH) 上市引发竞争担忧 美股存储芯片板块遭抛售 SK 海力士 (SKHY.US) 跌破发行价

According to the Zhitong Finance APP, on Monday, the global storage chip sector experienced a significant sell-off due to rising concerns over artificial intelligence (AI) infrastructure investments and the strong listing of Changxin Technology (688825.SH), the parent company of storage chip manufacturer Changxin Storage. SK Hynix (SKHY.US) saw its American Depositary Receipts drop below the issue price less than a month after listing, while other storage chip stocks like Micron Technology (MU.US) and SanDisk (SNDK.US) also fell.

On Monday, SK Hynix's ADR fell by as much as 10%, hitting a low of $139.01, below the IPO price of $149 on July 9, and ultimately closed at $143.02, about 4% lower than the issue price. This IPO raised as much as $26.5 billion, making it one of the largest IPOs globally this year.

Meanwhile, the Philadelphia Semiconductor Index continued its recent decline, closing at its lowest level since May 19, indicating that the market is continuing to withdraw from the previously high-performing AI semiconductor sector.

Analysts believe that this round of adjustment is mainly influenced by heightened concerns over AI infrastructure investments.

Earlier reports indicated that NVIDIA (NVDA.US) is negotiating an AI infrastructure project with a total scale exceeding $750 billion and plans to provide financing support for OpenAI-related data center projects, raising market concerns about the continued expansion of capital investment in the AI industry chain. As a result, the price of NVIDIA's credit default swaps recorded the largest single-day increase on record on Monday, indicating a noticeable cooling of investor risk appetite.

Notably, just as stock prices were plummeting, SK Hynix announced a partnership with NVIDIA to build an AI data center in South Korea with a total scale exceeding 2 gigawatts (GW), enough to meet the electricity needs of approximately 1.5 million households. The first "AI Factory," built by SK Telecom, is expected to be operational next year.

However, this positive news failed to boost stock prices, as market attention remained focused on the ongoing capital investment in the AI industry and future return prospects.

On the other hand, Changxin Technology made its debut on the Shanghai Stock Exchange on Monday, further intensifying market concerns about industry competition. The stock surged 466% on its first day of trading, quickly raising its market value to approximately $484 billion. The company specializes in DRAM storage chips, directly competing with SK Hynix, Micron, and Samsung Electronics.

At the same time, another domestic storage chip manufacturer, Yangtze Memory Technologies, is also expected to launch its IPO later this year, specializing in NAND Flash memory products, which will compete with Micron, SanDisk, and SK Hynix. Dragged down by market sentiment, Micron fell 2.25% on Monday, while SanDisk's decline reached 11.02%