SK hynix surges on first day of trading on Wall Street

South Korean chip giant SK hynix soared 13 percent on its first day of trading on Wall Street on Friday, capping one of the world's biggest ever stock sales as it takes advantage of the AI boom.Tech stocks have tumbled in recent weeks on fears of overheated valuations -- although SK hynix has soared more than 220 percent this year in Seoul -- and questions about when enormous global AI spending will reap returns.