SK Hynix launches $29 billion US ADR to fund AI memory chip expansion

South Korean memory‑chip maker SK Hynix announced a US American Depositary Receipt (ADR) offering of up to $29 billion, slated to begin trading on the New York Stock Exchange on July 10. The listing will involve up to 1.78 million new shares, roughly 2.5 % of its float, and is intended to raise capital for AI‑driven memory technologies such as high‑bandwidth memory (HBM) and 5G infrastructure. Following the announcement, SK Hynix shares jumped more than 10 %.

Korean brokerage KB Securities noted that the ADR move could set a precedent for Samsung Electronics, which may consider a similar US listing to attract global investors and lift its valuation. The firm also highlighted that Japanese NAND producer Kioxia plans an NYSE ADR next spring. Analysts see the ADR as a response to rising AI demand, with the global HBM market expected to grow 18 % in 2024. Market reactions have been mixed: after initial gains, a broader tech sell‑off pulled SK Hynix, Samsung and Kioxia shares lower, though year‑to‑date gains remain strong (SK Hynix up ~340 %).