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Daniel Loeb’s Third Point LLC made a bet on SK Hynix in the third quarter as it saw a way to play the artificial-intelligence trade in a cheaper way than U.S. options afforded.
His third-quarter investor letter mentioned new investments in SK Hynix
KR:000660, a South Korean memory player, and Ebara JP:6361, a Japanese maker of semiconductor-production equipment. “We believe both companies are leaders in their respective industries, significant beneficiaries of the AI buildout, and trade at undemanding absolute valuations and meaningful discounts to their U.S. peers,” he wrote.
This post was originally published on Market Watch
