By Sherry Qin
Nanya Technology's shares rose after the memory chip maker secured about $2.5 billion in private placements from four international investors, including Sandisk Technologies, to expand advanced memory production amid the artificial-intelligence boom.
The stock climbed as much as 9.9% in Thursday morning trading before trimming gains to 2.2%.
Nanya raised 78.7 billion New Taiwan dollars, equivalent to US$2.46 billion, by selling shares at NT$223.9 each in private placements to Sandisk, Solidigm, a unit of South Korea's SK Hynix, Japan's Kioxia Corp., and Cisco Systems, the company said on Wednesday.
The Taiwanese chipmaker, which focuses on dynamic random access memory, or DRAM, plans to use the fund to invest in factory facilities and equipment for advanced memory production, as demand rises with next-generation AI.
Under a muti-year DRAM supply agreement, Nanya is expected to secure stable long-term demand and funding for investment, Daiwa analyst SK Kim said in a note.
SK Hynix, a leader in high-bandwidth memory, has increased investment to meet demand for advanced chips driven by AI. It said it has filed to list in the U.S. this year to raise funds.
Sandisk said Nanya will supply DRAM products under an agreement that supports its long-term sourcing strategy, as supply remains tight amid rising demand from global AI infrastructure buildout.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
03-26-26 0107ET
