SK Hynix raises $26.5 bn in record US IPO, shares jump 13‑14%
South Korean memory‑chip maker SK Hynix launched American Depositary Receipts on the Nasdaq, pricing the offering at $149 per ADR. The company sold 177.9 million ADRs, raising roughly $26.5 billion – the largest foreign IPO ever on a US exchange, surpassing Alibaba’s 2014 debut.
Demand for the shares was more than seven times the amount offered, and the stock opened at $170, climbing 13‑14 % above the issue price on its first day of trading. The proceeds will fund new manufacturing capacity and equipment, including a U.S. plant, to meet booming demand for high‑bandwidth memory (HBM) chips that power AI data‑center processors.
The debut highlights investor appetite for AI‑related infrastructure, with the IPO acting as a barometer for the sector’s momentum. It also adds a new heavyweight to the Nasdaq, giving US investors direct exposure to a company that already commands over 50 % of the global HBM market and contributes a growing share of AI‑driven semiconductor sales.