SK Hynix Hits the Nasdaq & Talking FIFA with Men in Blazers 7/10/26

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**Joe Kernen** (0:58)
Bring in show music, please.

**Cameron Costa** (1:02)
This is Squawk Pod and I'm CNBC producer Cameron Costa. On today's episode, big headlines from the tech world, an executive departure from OpenAI and AI giant of South Korea, SK Hynix is debuting on the US NASDAQ, raising billions of dollars from US investors. Our own Kristina Partsinevelos joins us with its pitch compared to American memory chip makers.

**Kristina Partsinevelos** (1:28)
SK Hynix is bigger, cheaper and closer to NVIDIA.

**Cameron Costa** (1:32)
Then, Stat News reporter Bob Herman is digging into the cracks in the American health care system. It's all coming to a head for smaller employers.

**Bob Herman** (1:42)
Small businesses are on the shore of the tsunami and a lot of them are fleeing, they're getting rid of insurance because they know they can't afford it anymore.

**Cameron Costa** (1:51)
Plus, Netflix could be getting into live TV. And more good news for viewers, demigods on grass. The World Cup quarterfinals are only just getting started. Founder of Men in Blazers Media Roger Bennett made a business betting that Americans will jump aboard the soccer bandwagon.

**Roger Bennett** (2:09)
The world falling in love with America, one Buc-E's, one Popeye's, one Waffle House at the time, which I think we also needed right now. And then America falling in love with global football. It's been a spectacular four weeks.

**Cameron Costa** (2:21)
One new fan from the 2026 World Cup, look no further.

**Joe Kernen** (2:25)
It's happening to me a little bit.

**Cameron Costa** (2:28)
It is Friday, July 10th, and Squawk Pod begins right now.

**SPEAKER_2** (2:33)
Stand by Joe in three, two, one. There's mic. Cue.

**Joe Kernen** (2:39)
Good morning, and welcome to Squawk. Welcome back, because you were here yesterday, in the Squawk Box, here on CNBC, live from the NASDAQ market site in Times Square, and you're going to be happy. Melissa Lee is here, like I am.

**Cameron Costa** (2:51)
I'm happy to be here with Joe.

**Joe Kernen** (2:52)
Melissa Lee is here. Becky and Andrew are off today, and Ohio is still the best state.

**Melissa Lee** (3:00)
It will be for the next year.

**Joe Kernen** (3:01)
It certainly will be.

**Melissa Lee** (3:03)
One of the key companies.

**Joe Kernen** (3:04)
Look who's here, who came in.

**Melissa Lee** (3:05)
The AI industry, I know, tapping on the American investors for billions of dollars in funding. Kristina Partsinevelos joins us now with more on SK Hynix's US debut.

**Kristina Partsinevelos** (3:17)
Yeah, it's official because SK Hynix has raised roughly $26.5 billion at $149 per American depository share. That's what's listed here. This would be the second largest share sale ever after SpaceX, also at the NASDAQ just last month. We're wondering, why all this demand for a company, maybe you haven't heard of? SK Hynix is the world leader in high-bandwidth memory, the memory that feeds AI chips with roughly 58 percent of that market. Micron and Samsung competitors split roughly 21 percent each in that pie chart right there as per counterpoint research. The case though against Micron really comes down to one sentence. It's bigger, SK Hynix is bigger, cheaper and closer to NVIDIA.
It's cheaper than the American rival in terms of markets, almost six times forward earnings versus Micron 7, so not that much, but still a little cheaper. That discount existed because US investors couldn't easily buy the Korean shares. Starting today, they can, which is why analysts see this listing as the catalyst that finally closes the gap between what's going on in South Korea and here in the United States. Barclay estimates the stock could see up to roughly $14 billion in passive buying alone as it enters the major indices just over the next few months. As for the $26.5 billion raise, it all goes into new fabs and equipment like ASML parts. Part of the Korean build out specifically, the company says could reach $720 billion.