Hanmi Semiconductor Shares Soar After Disclosing SpaceX Investment

About this update from Hanmi Semiconductor Co., Ltd

By Jason ChauShares of Hanmi Semiconductor soared in Seoul, after the company disclosed its investment in Elon Musk's SpaceX.Hanmi Semiconductor said Friday it had purchased 50 billion won, equivalent to $33 million, of shares in the aerospace company's $75 billion initial public offering, the world's biggest IPO ever.The company said the investment was made based on the growth potential of SpaceX and Terrafab, driven by explosive demand for artificial intelligence, satellite communications, aerospace technology and advanced semiconductors. Terrafab is a chip fab venture jointly developed by Musk's SpaceX, Tesla and xAI.SpaceX's shares are set to start trading on the Nasdaq later Friday.Hanmi's stock surged as much as 28% intraday Friday before closing 24% higher. The gains extend its stellar run, with shares nearly tripling so far this year.The Korean chip maker is one of the world's leading designers and manufacturers of semiconductor equipment, including chip bonders used to stack high-bandwidth memory chips. The company has recently benefited from the global AI boom, as soaring demand for AI chips has delivered stellar growth across Korea's semiconductor sector.Write to Jason Chau at [email protected]

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