SK Hynix sold nearly 178 million American depositary shares at $149 each, with trading set to begin on the Nasdaq
SK Hynix, South Korea’s second-most valuable company, begins trading on the Nasdaq today.
The memory chip maker raised $26.5 billion, making it the largest share sale ever by a foreign company on a US exchange.
SK Hynix sold nearly 178 million American depositary shares at $149 each. The offering attracted huge interest, with demand reportedly more than seven times the number of shares available.
The company provides high-performance memory chips essential for AI data centers to companies including Nvidia.
Strong demand for AI hardware has pushed SK Hynix’s market value above $1 trillion in South Korea, while its share price has more than tripled this year.
The rush for advanced memory chips has driven up prices for its conventional memory products used in smartphones and PCs, pushing first-quarter 2026 profits up nearly fivefold.
The US listing opens the door to a broader base of global investors and provides the company with greater financial strength to expand its AI and semiconductor businesses.
Analysts say the success of the offering could encourage more AI-focused companies to tap US markets as investor appetite for the sector remains strong.